Which of the following statements is/are correct with respect to income or output?

i. Income or output are flows.

ii. Income or output are stocks.

iii. Income or output can be defined over a period.

Question

Question

This question was previously asked in

SSC CHSL Exam 2023 Tier-I Official Paper (Held On: 10 Aug, 2023 Shift 1)

Answer 1

The correct answer is Only i and iii.

Key Points

Income or output are flows because they represent the amount of money or goods that are generated or produced within a specific time period.
Both income and output can be defined over a period, such as a month, quarter, or year, which allows for comparisons and analysis over time.

Additional Information

Income is the money earned by individuals or businesses from various sources, such as wages, salaries, investments, and profits.
Output refers to the goods and services produced by businesses, which can be measured in terms of quantity or value.