SSC Economics Sample Paper NCERT Sample Paper-6

  • question_answer
    What is the meaning of Transfer Payment?

    A)  It refers to payments made for which there is no goods produced or service provided in return.

    B)  It is a type of treasury bills

    C)  It is a method of transfer of money in the banking system

    D)  None of the above

    Correct Answer: A

    Solution :

    [a] In economics, a transfer payment (or government transfer or simply transfer) is are distribution of income in the market system. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. In other words, the transfer is made without any exchange of goods or services.

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