This quiz works best with JavaScript enabled. Home > Economics > Development > General > Economic Development – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Development Quiz 7 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a tertiary industry? A) Provides a service for people. B) Manufactures products. C) Collects or produces natural resources. D) Research and technology. Show Answer Correct Answer: A) Provides a service for people. 2. X. The basic concepts of demand and supply is under the study on microeconomicsY. Understanding how taxes affect both consumers and producers is under the study on macroeconomics A) A. B) C. C) B. D) D. Show Answer Correct Answer: A) A. 3. What makes up the human development index? A) Life expectancy. B) Per capita income. C) Education level and literacy rate. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. The use of knowledge of tools and machines used to make or modify a problem, and improve preexisting solutions to a problem in order to achieve a goal. A) Knowledge. B) Technology. C) Innovation. D) Tools. Show Answer Correct Answer: B) Technology. 5. The international agreement not to mine mineral resources in Antarctica is an example of understanding the need to protect A) Globalization. B) The scarce population. C) Economic interdependence. D) The environment. Show Answer Correct Answer: D) The environment. 6. The European Union has most benefited its member nations by A) Reducing barriers to trade and travel. B) Sharing expense of a common defense. C) Promoting the use of a common language. D) Providing funds and materials for education. Show Answer Correct Answer: A) Reducing barriers to trade and travel. 7. Why are the factories in Mexico close to the border? A) Where the best resources are. B) The geography is best there. C) Easy to ship in and out. D) None of above. Show Answer Correct Answer: C) Easy to ship in and out. 8. Prior to the Industrial revolution, people made household tools, clothing, and agricultural equipment in their homes, which is known as the ..... A) Cottage Industry. B) Home-Bound Industry. C) Sustainable Development. D) Fair Trade Industry. Show Answer Correct Answer: A) Cottage Industry. 9. The value of a particular product compared to the amount of labor needed to make it. A) Fair Trade. B) Added Value. C) Industry. D) Development. Show Answer Correct Answer: B) Added Value. 10. Something that occurs naturally in a region or environment. A) Natural resources. B) Human resources. C) Land. D) Capital goods. Show Answer Correct Answer: A) Natural resources. 11. Which of the following is not a goal of five year plan? A) Growth. B) Equality. C) Land reforms. D) Modernisation. Show Answer Correct Answer: C) Land reforms. 12. Which is the LEDC A) Central African Republic. B) Norway. C) Brazil. D) Germany. Show Answer Correct Answer: A) Central African Republic. 13. What is infant mortality rate? A) The number of infant born in an area. B) None of the above. C) The number of infants who die for every thousand births. D) None of above. Show Answer Correct Answer: C) The number of infants who die for every thousand births. 14. Which of the following is NOT infrastructure? A) Air Ports. B) Public Parks. C) Electrical cables. D) Roads. Show Answer Correct Answer: B) Public Parks. 15. Norway is an example of a ..... A) HIC. B) LIC. C) NIC. D) MIC. Show Answer Correct Answer: A) HIC. 16. Manufacturing centers that no longer produce with high unemployment and declining population A) Sun Belt. B) Rust Belt. C) Tornado Alley. D) Bible Belt. Show Answer Correct Answer: B) Rust Belt. 17. What type of economic system would be favored by John Keynes? A) Command. B) Market. C) Mixed. D) Traditional. Show Answer Correct Answer: C) Mixed. 18. A country described as an HIC is ..... A) Money efficient. B) Newly industrialised. C) Less developed. D) More developed. Show Answer Correct Answer: D) More developed. 19. Blake and Herman have opened a very successful furniture making factory. They are a part of which economic sector? A) Tertiary. B) Secondary. C) Primary. D) Quaternary. Show Answer Correct Answer: B) Secondary. 20. What is the BEST definition of an entrepreneur? A) A person who invests his or her resources to start a business. B) An economist who studies how the economy works. C) A bank manager who decides who should receive a loan. D) A government official who helps regulate the economy. Show Answer Correct Answer: A) A person who invests his or her resources to start a business. 21. Newly industrialized countries (NICs) like Brazil and Mexico are considered part of the A) Periphery. B) Semi-Periphery. C) Core. D) External. Show Answer Correct Answer: B) Semi-Periphery. 22. Which are examples of inventions that made life better here in Texas? A) Electric lines. B) The telephone. C) Trolleys. D) All of the above. Show Answer Correct Answer: D) All of the above. 23. What factors affect life expectancy? A) Level of poverty. B) Diet and nutrition. C) Number of doctors. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. A series of links connecting the many places of production and distribution and finally resulting in a finished product that is exchanged at the market. A) Wallenstein's World System Theory. B) Dependency Theory. C) Von Thunen's Model. D) Commodity Chain. Show Answer Correct Answer: D) Commodity Chain. 25. ..... is the total money value of all goods and services produced in an economy during an accounting year. A) Disposable income. B) Private income. C) National income. D) Per capita income. Show Answer Correct Answer: C) National income. 26. Modern concept of sustainable development focuses more on A) Economic development. B) Social development. C) Environmental protection. D) All of the above. Show Answer Correct Answer: A) Economic development. 27. How old is the NAFTA trade deal? A) 3 decades old. B) 2 decades old. C) 10 years old. D) 8 years old. Show Answer Correct Answer: B) 2 decades old. 28. How did developments in communication in the 1900s influence Texas? A) The invention of the telephone helped speed up communication for businesses. B) It helped people to get around quickly. C) They could talk to their family that lived in rural areas. D) None of above. Show Answer Correct Answer: A) The invention of the telephone helped speed up communication for businesses. 29. Model developed based on a three tier structure:core, semi-periphery, and periphery A) Weber. B) Von Thunen. C) Wallerstien. D) Rostow. Show Answer Correct Answer: C) Wallerstien. 30. Which type of economic activities would you most likely find in a newly industrialized country? A) Primary. B) Primary and Secondary. C) Secondary and Tertiary. D) Tertiary and Quaternary. Show Answer Correct Answer: C) Secondary and Tertiary. ← PreviousNext →Related QuizzesDevelopment QuizzesEconomics QuizzesEconomic Development Quiz 1Economic Development Quiz 2Economic Development Quiz 3Economic Development Quiz 4Economic Development Quiz 5Economic Development Quiz 6Economic Development Quiz 8Economic Development Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books