Economic Development: A Comprehensive Guide for Further Education Students

Question 1

Which of the following is NOT a key factor in promoting economic growth?

Accepted Answer

Government regulations

Answer

Investment

Answer

Innovation

Answer

Human capital

Question 2

Which of these is a factor that can help, rather than hinder, economic development in a country?

Accepted Answer

Building up skills and education levels

Answer

Political instability and corruption

Answer

Limited access to roads, power, and communication

Answer

Environmental damage and resource depletion

Question 3

Economic inequality is a significant issue in many developing countries. **Discuss** the main causes and consequences of economic inequality in developing countries. **Suggest** specific policies or strategies that governments can implement to address this issue.

Accepted Answer

Increase government spending on social programs to reduce poverty.

Accepted Answer

Promote education and skills training to improve the human capital of the workforce.

Answer

Reduce taxes on businesses to encourage investment and job creation.

Answer

Deregulate the labor market to make it easier for businesses to hire and fire workers.

Question 4

According to Rostow's Stages of Economic Growth, which of the following represents the first stage?

Accepted Answer

Traditional society

Answer

Post-industrial society

Answer

Take-off

Answer

Maturity

Question 5

Which of the following is a defining characteristic of a developed economy?

Accepted Answer

High per capita income

Answer

Subsistence farming

Answer

Limited access to healthcare

Answer

Low levels of education

Question 6

What is the primary objective of the Millennium Development Goals (MDGs)?

Accepted Answer

Eradicate extreme poverty and reduce inequality

Answer

Improve education

Answer

Protect the environment

Answer

Promote economic growth

Question 7

Which of the following is a significant factor that can hinder economic development?

Accepted Answer

Political instability

Answer

Access to technology

Answer

Abundant natural resources

Answer

Skilled workforce

Question 8

What aspect of human well-being does the Human Development Index (HDI) measure?

Accepted Answer

The level of human well-being based on health, education, and standard of living

Answer

The quality of the environment

Answer

The political stability

Answer

The rate of economic growth

Question 9

Which of the following is a widely recognized strategy for promoting economic development in less developed countries?

Accepted Answer

Investment in education and human capital

Answer

Imposing trade barriers against imports

Answer

Increasing military spending

Answer

Reducing taxes on businesses without considering the long-term impact

Question 10

What is the term used to describe the process of transitioning from traditional to modern economic structures and systems?

Accepted Answer

Modernization

Answer

Industrialization

Answer

Development

Answer

Globalization

Question 11

Which of the following is NOT a potential benefit of economic development?

Accepted Answer

Increased poverty

Answer

Access to education

Answer

Environmental sustainability

Answer

Improved health and living standards

Question 12

What does the Kuznets curve hypothesis suggest about income inequality?

Accepted Answer

Income inequality may initially increase with economic growth but decrease at higher levels of development

Answer

Economic growth always leads to a reduction in income inequality

Question 13

Which of the following is NOT a key factor that contributes to economic growth?

Accepted Answer

Natural disasters

Answer

Human capital

Answer

Innovation

Answer

Investment

Question 14

Which of the following is a characteristic of a developed economy?

Accepted Answer

High GDP per capita

Answer

Subsistence agriculture

Answer

High birth rates

Answer

Low levels of literacy

Question 15

Which of the following is a strategy for promoting economic development in developing countries?

Accepted Answer

Investing in infrastructure and education

Answer

Raising taxes excessively

Answer

Printing more money

Answer

Restricting trade

Question 16

Which of the following is a challenge facing economic development?

Accepted Answer

Environmental degradation

Answer

Increased globalization

Answer

Abundant natural resources

Answer

Technological advancements

Question 17

Which of the following is a key concept in economic geography?

Accepted Answer

Spatial distribution of economic activities

Answer

Cultural diversity

Answer

Climate patterns

Answer

Political boundaries

Question 18

Which of the following is a benefit of economic development?

Accepted Answer

Improved living standards

Answer

Social inequality

Answer

Increased pollution

Question 19

Which of the following is a characteristic of a less developed economy?

Accepted Answer

High levels of poverty

Answer

Strong property rights

Answer

Advanced technology

Answer

Efficient financial markets

Question 20

Which of the following is a role of the government in promoting economic development?

Accepted Answer

Providing infrastructure, education, and healthcare

Answer

Suppressing dissent

Answer

Controlling the media

Answer

Nationalizing all industries

Question 21

Which of the following is NOT a key factor driving economic growth?

Accepted Answer

Abundant natural resources

Answer

Investment in human capital

Answer

Technological innovation

Question 22

Which of the following is a characteristic of a developed economy?

Accepted Answer

Dominance of the service sector

Answer

High dependence on agriculture

Answer

Limited infrastructure

Answer

Low levels of foreign investment

Question 23

Which of the following is a strategy used to promote economic development in developed countries?

Accepted Answer

Reducing government regulations

Answer

Increasing foreign aid

Answer

Imposing trade tariffs

Answer

Nationalizing key industries

Question 24

Which of the following is a potential benefit of economic development?

Accepted Answer

Improved healthcare

Answer

Environmental degradation

Answer

Political instability

Answer

Increased income inequality

Question 25

Which of the following is a potential challenge associated with economic development?

Accepted Answer

Resource depletion

Answer

Increased technological advancement

Answer

Improved living standards

Answer

Improved literacy rates

Question 26

Which of the following is a key difference between developed and developing economies?

Accepted Answer

Level of industrialization

Answer

Size of population

Answer

Cultural diversity

Answer

Geographic location

Question 27

Which of the following is an example of sustainable economic development?

Accepted Answer

Developing renewable energy sources

Answer

Promoting economic growth at the expense of social justice

Answer

Exploiting natural resources without regard to environmental consequences

Answer

Building factories without considering the impact on local communities