This quiz works best with JavaScript enabled. Home > Economics > Development > General > Economic Development – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A nation that has a low level of material well-being is known as ..... A) Developed Nation. B) Less Developed Country. C) First World Country. D) Highly Developed Nation. Show Answer Correct Answer: B) Less Developed Country. 2. Which among the following is most important for agricultural productivity? A) Irrigation. B) Rainfall. C) Land area. D) Fertilizer. Show Answer Correct Answer: B) Rainfall. 3. The set of goals that were made by the UN in 2000 and were revisited in recent years to evaluate progress on development of LDC's in the world. A) Informal Economy. B) Millennium Development Goals. C) UNHCR. D) HDI. Show Answer Correct Answer: B) Millennium Development Goals. 4. X. Economic growth equates to economic developmentY. Economic growth means high gross national product (GNP) A) B. B) D. C) A. D) C. Show Answer Correct Answer: A) B. 5. Typically, slash & burn agriculture leads to: A) Shifting cultivation. B) Aquaculture. C) Pastoralism. D) Plantation farming. Show Answer Correct Answer: A) Shifting cultivation. 6. India adopted the ..... economic system. A) Capitalist. B) Mixed. C) Socialist. D) None of the above. Show Answer Correct Answer: B) Mixed. 7. Percentage of people who can read and write A) Mortality Rate. B) Literacy Rate. C) Smart People. D) GDP. Show Answer Correct Answer: B) Literacy Rate. 8. Technological knowledge A) Is the same thing as human capital. B) Can be discovered but it can never be kept secret. C) Is a determinant of productivity. D) Does not play a role in the relationship that economists call the production function. Show Answer Correct Answer: C) Is a determinant of productivity. 9. Which of the following BEST represents variable costs in manufacturing? A) Supplies purchased from assorted locations. B) Employee wages on a day to day basis. C) A mortgage on a building. D) Electricity to run the machinery. Show Answer Correct Answer: A) Supplies purchased from assorted locations. 10. Toyota operates in which industry sector? A) Primary. B) Quinary. C) Secondary. D) Quaternary. Show Answer Correct Answer: C) Secondary. 11. What is mass production? A) The process of creating large numbers of similar products effectively. B) When each worker specializes in all tasks needed to create a product. C) When a product is produced by only one person. D) None of above. Show Answer Correct Answer: A) The process of creating large numbers of similar products effectively. 12. Which of the following items play a role in determining productivity? A) Physical capital. B) Natural resources. C) Technological knowledge. D) All of the above are correct. Show Answer Correct Answer: D) All of the above are correct. 13. Survey of Pakistan 2013-14, per anum production of coal is ..... metric ton. A) 2000. B) 3000. C) 4000. D) None of above. Show Answer Correct Answer: C) 4000. 14. Maquiladoras in northern Mexico depend on low cost Mexican labor to inexpensively create expensive finished products. This most reflects which geographic principle? A) Push factor. B) Demographic transition. C) Dependency ratio. D) Core-periphery model. Show Answer Correct Answer: D) Core-periphery model. 15. Which year is known as the"Year of Great Divide" A) 1981. B) 1921. C) 1951. D) 1991. Show Answer Correct Answer: B) 1921. 16. In a ..... system, supply and demand sets the prices for goods and services. A) Command Economic. B) Market Economic. C) Liberal. D) Socialist. Show Answer Correct Answer: B) Market Economic. 17. If you grew up on a farm in West Texas, would type of economic activities would you most likely participate in? A) Secondary. B) Primary. C) Tertiary. D) Quaternary. Show Answer Correct Answer: B) Primary. 18. One's level of wealth, comfort, and material goods is called.. A) Economic development. B) Human development. C) Standard of living. D) Social change. Show Answer Correct Answer: C) Standard of living. 19. According to Rostow's development model, a country with a lot of heavy industry that uses modern technology is in A) State 2, preconditions to take off. B) Stage 5, age of mass consumption. C) Stage 3, take off. D) Stage 4, drive to maturity. Show Answer Correct Answer: D) Stage 4, drive to maturity. 20. No country can achieve sustainable economic development without substantial investment in human. A) Macroeconomic. B) Level of infratructure. C) Political Stability. D) Educational Standard. Show Answer Correct Answer: D) Educational Standard. 21. Which country would be most likely to advertise Ecotourism? A) South Korea. B) Costa Rica. C) China. D) Netherlands. Show Answer Correct Answer: B) Costa Rica. 22. Who regulates the markets in agricultural products in India? A) Essential Commodities Act, 1955. B) Agricultural Produce (Grading and Marking) Act, 1937. C) Agricultural Produce Market Committee Act enacted by States. D) Food Products Order, 1956 and Meat and Food Products Order, 1973. Show Answer Correct Answer: C) Agricultural Produce Market Committee Act enacted by States. 23. This sector of the economy includes major universities and research institutions. A) Secondary. B) Quinary. C) Primary. D) Quaternary. Show Answer Correct Answer: D) Quaternary. 24. What stage of Rostow's Development Index does technology first get introduced? A) 4-drive to maturaty. B) 2-Preconditions of takeoff. C) 3-takeoff. D) 1-Traditional Society. Show Answer Correct Answer: B) 2-Preconditions of takeoff. 25. Companies keep on hand just what supplies they need for near-term production; eliminates wasted goods and frees up capital. A) Commodity chain. B) Trading bloc. C) Economies of scale. D) Just-in-time Delivery. Show Answer Correct Answer: D) Just-in-time Delivery. 26. A certain amount of goods and services is necessary for a minimum standard of living. This is called A) Basic needs. B) Absolute poverty. C) An international standard of living. D) The concept of development. Show Answer Correct Answer: A) Basic needs. 27. Raw material is related to A) Services. B) Secondary sector. C) Tertiary sector. D) Primary sector. Show Answer Correct Answer: D) Primary sector. 28. The president of a major research university, the chairman of the board at a Fortune 500 company, and the head of state of a country are all individuals that would be part of which economic sector? A) Quinary. B) Tertiary. C) Secondary. D) Quaternary. Show Answer Correct Answer: A) Quinary. 29. When we produce a good by exploiting natural resources, it is an activity of the: A) Secondary sector. B) Tertiary sector. C) Organised sector. D) Primary sector. Show Answer Correct Answer: D) Primary sector. 30. A foreign currency gap increases the price of? and can lead to? in an economy A) Imports, inflation. B) Exports, current account deficit. C) Exports, inflation. D) Imports, current account deficit. Show Answer Correct Answer: A) Imports, inflation. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomics QuizzesEconomic Development Quiz 1Economic Development Quiz 2Economic Development Quiz 3Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 7Economic Development Quiz 8Economic Development Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books