University of Kashmir

Admit Card (Provisional)

UG 3th sem. Reg/Pvt & Backlog Batch-(2016-2021)

Rollno 24088749
Session May, 2024 Year 2023
Name of the
SAJID AHMAD
Candidate
Son/Daughter of KHURSHEED AHMAD BHAT

Centre No 44

Name of the Centre GOVT DEGREE COLLEGE, NAWAKADAL, SGR

Subjects in which to appear DBM420-DAA420-EC420
PLEASE ADMIT THE CANDIDATE (PROVISIONALLY) TO THE EXAMINATION TITLED ABOVE, AND FOR THE
SUBJECT(S) MENTIONED IN THE STATEMENT TO BE HELD ON THE DATES AS GIVEN IN THE DATE SHEET.
Subjectcode Subjectname date Time Remarks
EC420 ECONOMICS 05 may2024 10:30am
04 June
OS320 Opearting system 10:30am
2024
24 May
2.3.
2023

Note: Subjects for Fresh Pvt. can change subject to Sd/-

verification by the Registration section. Deputy controller of Examination
Examination and Result Guidelines:
While attempting your question paper in the examination hall, you have to strictly abide by various instructions which are printed on
the cover page of each Answer Book. Some of the important guidelines are reproduced here for your benefit.

 Limitations of measuring national income include:

1. Non-Market Transactions: National income calculations often exclude non-market transactions, such as
household work, volunteer activities, and the underground economy, leading to an underestimation of the true
economic activity.
 2. Quality of Life: National income measures may not fully capture changes in the quality of life,
well-being, and distribution of income and wealth within society.
 3. Environmental Impact: National income calculations typically do not account for environmental
degradation and resource depletion, leading to an incomplete assessment of sustainability and long-term
economic welfare.
 4. Income Distribution: National income figures may mask inequalities in income distribution, as
they focus on aggregate figures and may not reflect disparities in wealth and income among different segments of
the population.
 5. Price Level Changes: National income figures may be affected by changes in the price level,
which can distort comparisons over time and across countries if not adjusted for inflation.
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 Explain the circular flow of national income in an economic ?
 The circular flow of national income represents the continuous flow of goods, services, and payments between
households and firms within an economy. It illustrates how different sectors of the economy interact and rely on
each other for economic activity. Here's how it works:

 1. **Households:**
 - Households are the ultimate consumers in the economy. They supply factors of production, such as labor, land,
and capital, to firms in exchange for income.
 - Households receive income from firms in the form of wages, salaries, rent, interest, and profits.

 2. **Firms:**
 - Firms produce goods and services using the factors of production supplied by households. They pay wages,
rent, interest, and profits to households in return for these inputs.
 - Firms sell goods and services to households and other firms in exchange for revenue.

 3. **Product Market:**
 - In the product market, households purchase goods and services produced by firms. This represents
consumption expenditure.
 - Firms sell goods and services to households, generating revenue for their production.

 4. **Factor Market:**
 - In the factor market, households supply factors of production, such as labor, land, and capital, to firms in
exchange for income.
 - Firms purchase factors of production from households, paying wages, rent, interest, and profits.

 5. **Government:**
 - The government collects taxes from households and firms, which reduces households' disposable income.
 - The government spends money on goods, services, and transfer payments, injecting funds back into the
circular flow.
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 6. **Foreign Sector:**
 - The economy interacts with the rest of the world through exports and imports of goods and services.
 - Export revenues flow into the circular flow, while spending on imports leaks out.
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