This quiz works best with JavaScript enabled. Home > Development > General > Economic Development – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Potential primary economic activities are often restricted by which of the following? A) Corporate competition. B) Physical environment. C) International exchange rates. D) Local cultural norms. Show Answer Correct Answer: B) Physical environment. 2. Who is the governor of RBI at present. A) Urjit Patel. B) Shakti Kant Das. C) Raghuram Rajan. D) Manmohan Singh. Show Answer Correct Answer: B) Shakti Kant Das. 3. How many percent of Indian farmers get Minimum Support Price (MSP) in India A) 100%. B) 65%. C) 25%. D) 6%. Show Answer Correct Answer: D) 6%. 4. The one variable that stands out as the most significant explanation of large variations in living standards around the world is A) Productivity. B) Population. C) Preferences. D) Prices. Show Answer Correct Answer: A) Productivity. 5. Process by which firms move industrial jobs to other regions leaving behind high unemployment. A) Industrialization. B) Agglomeration. C) Deindustrialization. D) Outsourcing. Show Answer Correct Answer: C) Deindustrialization. 6. Which among the following is a characteristic of underdevelopment? A) Vicious circle of poverty. B) Rising mass consumption. C) Growth of industries. D) High rate of urbanization. Show Answer Correct Answer: A) Vicious circle of poverty. 7. A Country with an HDI of .92 is most likely what type of country A) MDC. B) LDC. C) In between. D) None of above. Show Answer Correct Answer: A) MDC. 8. Factories built by US companies in Mexico near the US border, to take advantage of much lower labor cost in Mexico. A) Technopoles. B) Maquiladores. C) Telenovelas. D) Esperantos. Show Answer Correct Answer: B) Maquiladores. 9. ..... Stage is characterized by the domestication of plants. A) Pastoral. B) Hunting and Gathering. C) Horticultural. D) Post-Industrial. Show Answer Correct Answer: C) Horticultural. 10. Which one of these is a central problem of an Economy? A) What to produce. B) How to produce. C) For whom to produce. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. The basic material from which a product is made. A) Rescue resources. B) Capital resources. C) Human resources. D) Natural resources. Show Answer Correct Answer: D) Natural resources. 12. Goods and services are exchanged (or sold) A) Primary Industry. B) Secondary Industry. C) Tertiary Industry. D) None of above. Show Answer Correct Answer: C) Tertiary Industry. 13. Measures inequalities between men and women in regards to political and economic participation and decision making, and power over economic resources. A) Gender Empowerment Measure (GEM). B) Gender-Related Development Index (GDI). C) Gender Equity. D) Human Development Index (HDI). Show Answer Correct Answer: A) Gender Empowerment Measure (GEM). 14. A bulk gaining product would be produced A) Close to the source of material. B) Far away from cities. C) Next to a mine. D) Near the market. Show Answer Correct Answer: D) Near the market. 15. The total value of goods and services produced by a country (including those produced overseas) is called: A) GDP. B) GNP. C) Globalization. D) Economics. Show Answer Correct Answer: B) GNP. 16. Political tensions between Bangladesh and India were strained over climate related issue that dealt with A) Flood relief along the Ganges River. B) Water treatment along the Ganges River. C) Building a dam on the Feni River. D) Water rights along the Ganges River. Show Answer Correct Answer: D) Water rights along the Ganges River. 17. Less industrialized countries are more involved in A) Market-oriented and commercial agriculture. B) Cottage industries and the primary/secondary sectors. C) Commercial industries. D) Service sectors (tertiary). Show Answer Correct Answer: B) Cottage industries and the primary/secondary sectors. 18. A large component of survival in many countries with low per capita GNIs is the informal economy. Which of the following does not make up a portion of Mexico's formal economy and GNI? A) Manufactoring. B) Coyote payments. C) Tourism. D) Export of poinsettias in December. Show Answer Correct Answer: B) Coyote payments. 19. A network that connects the different steps in the production of a good A) Modernization model. B) Agglomeration. C) Deindustrialization. D) Commodity chain. Show Answer Correct Answer: D) Commodity chain. 20. Tertiary Sector is also known as ..... A) Service sector. B) Trade. C) Hotel and restaurant. D) None of these. Show Answer Correct Answer: A) Service sector. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomic Development Quiz 1Economic Development Quiz 3Economic Development Quiz 4Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 7Economic Development Quiz 8Economic Development Quiz 9Economic Development Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books