#1
Which of the following is a characteristic of a developed economy?
High per capita income
ExplanationAssociated with higher standard of living.
#2
What is the primary goal of economic development?
Improving living standards
ExplanationEnhancing quality of life and well-being.
#3
Which of the following is a characteristic of a less developed economy?
Low levels of industrialization
ExplanationLacking advanced industrial infrastructure.
#4
Which organization is responsible for publishing the Human Development Index (HDI)?
United Nations Development Programme (UNDP)
ExplanationAssesses global development progress.
#5
Which of the following is an example of a developing country?
China
ExplanationExperiencing rapid industrialization and growth.
#6
Which of the following is NOT a factor contributing to global disparities?
Cultural diversity
ExplanationCultural diversity enriches global society.
#7
Which economic theory focuses on the importance of international trade in economic development?
Comparative advantage theory
ExplanationHighlights specialization and trade efficiency.
#8
What is the main factor driving economic globalization?
Advancements in communication and technology
ExplanationFacilitates rapid information exchange and connectivity.
#9
Which of the following is NOT a measure of economic development?
Consumer Price Index (CPI)
ExplanationCPI tracks inflation, not development progress.
#10
Which region has the highest concentration of Least Developed Countries (LDCs)?
Africa
ExplanationFacing significant economic challenges.
#11
What is the Gini coefficient used to measure in the context of economic development?
Income inequality
ExplanationQuantifies income distribution disparity.
#12
What is the 'poverty trap' in the context of economic development?
A cycle of poverty where individuals cannot escape due to various factors
ExplanationPersistent deprivation perpetuating poverty.
#13
What is the role of microfinance in economic development?
To provide small loans and financial services to low-income individuals
ExplanationEmpowering grassroots entrepreneurship.
#14
Which of the following organizations is NOT part of the Bretton Woods system?
World Trade Organization (WTO)
ExplanationWTO formed post-Bretton Woods.
#15
Which of the following is NOT a potential consequence of economic globalization?
Decrease in international trade
ExplanationGlobalization typically boosts trade.