This quiz works best with JavaScript enabled. Home > Development > General > Economic Development – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 16 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which sector has grown in the fastest in developed countries? A) Primary. B) Secondary. C) Tertiary. D) None of above. Show Answer Correct Answer: C) Tertiary. 2. In a market economy, who or what determines prices of goods and services? A) Government. B) Industrial output. C) Supply and demand. D) Religious beliefs. Show Answer Correct Answer: C) Supply and demand. 3. Which is an example of investing in capital goods? A) Keeping old delivery trucks. B) Training workers to do their jobs better. C) Keeping old computers in order to save money. D) Constructing a new factory. Show Answer Correct Answer: D) Constructing a new factory. 4. Financial market activities affect A) Personal wealth. B) Spending decisions by individuals and business firms. C) The economy's location in the business cycle. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. Countries in ..... and ..... would likely have the highest rates of gender equality. A) North America:Western Europe. B) South America:Western Europe. C) North America:South America. D) East Asia:South America. Show Answer Correct Answer: A) North America:Western Europe. 6. How advanced an economy is ..... A) Environment Development. B) Economic Advancement. C) Economic Development. D) Environment Advancement. Show Answer Correct Answer: C) Economic Development. 7. Which types of countries' economies rely primarily on primary economic activities? A) Core Countries. B) NICs. C) Semi-Periphery Countries. D) Periphery Countries. Show Answer Correct Answer: D) Periphery Countries. 8. A defining characteristic of a MDC when compared to a LDC is A) A GDP of $ 10, 000 per year. B) A population which has on average 5 years of education. C) At most a literacy rate of 65%. D) A GDP exceeding $ 30, 000 per year. Show Answer Correct Answer: D) A GDP exceeding $ 30, 000 per year. 9. An important financial institution that assists in the initial sale of securities in the primary market is the A) Investment bank. B) Commercial bank. C) Stock exchange. D) Brokerage house. Show Answer Correct Answer: A) Investment bank. 10. Sabine has started her own coffee shop in Montreal. She invested her own money and took out loans to open the shop. What is Sabine? A) She is a natural resource. B) She is an entrepreneur. C) She is a capital resource. D) She is a government official. Show Answer Correct Answer: B) She is an entrepreneur. 11. This is when company relocates a piece (or all)of its manufacturing operations to factories in othercountries due to cheaper resources/labor A) Job shipping. B) Outsourcing. C) Resourcing. D) Layoffs. Show Answer Correct Answer: B) Outsourcing. 12. How has the North American Free Trade Agreement increased trade between the nations of Canada, Mexico, and the United States? A) By reducing tariffs. B) By imposing quotas. C) By establishing embargoes. D) By prohibiting foreign investment. Show Answer Correct Answer: A) By reducing tariffs. 13. Investment made by a foreign company in the economy of another country. A) FDI (Foreign Direct Investment). B) GDP (Gross Domestic Product). C) HDI (Human Development Index). D) GNP (Gross National Product). Show Answer Correct Answer: A) FDI (Foreign Direct Investment). 14. Capitalist Economy is controlled and operated by A) Private sector. B) Public sector. C) Both A and B. D) None of the above. Show Answer Correct Answer: A) Private sector. 15. From of mass production in which each worker is assigned one specific task to perform repeatedly. A) Zelinsky Model. B) Post-fordist. C) Fordist. D) Gravity model. Show Answer Correct Answer: C) Fordist. 16. X. Economics is a science which deals with the relationship between ends and scarce means which have alternative uses.Y. It is the study of how societies use scarce resources to produce valuable commodities A) A. B) B. C) C. D) D. Show Answer Correct Answer: C) C. 17. Humans have obtained food in a variety of ways. Which method below emerged last? A) Hunting & gathering. B) Vegetative planting. C) Seed agriculture. D) The Colombian Exchange. Show Answer Correct Answer: D) The Colombian Exchange. 18. Armaments industry is the ..... A) Small Scale Industry. B) Cottage Industry. C) Large Scale Industry. D) None of above. Show Answer Correct Answer: C) Large Scale Industry. 19. GDP PPP shows.. A) The total income of a country. B) How much people earn on average. C) How much you can buy with your money. D) None of above. Show Answer Correct Answer: C) How much you can buy with your money. 20. Among the following which Indian state produces the largest quantity of pulses? A) Maharashtra. B) Uttar Pradesh. C) Madhya Pradesh. D) Rajasthan. Show Answer Correct Answer: C) Madhya Pradesh. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomic Development Quiz 1Economic Development Quiz 2Economic Development Quiz 3Economic Development Quiz 4Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 7Economic Development Quiz 8Economic Development Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books