#1
Which historical era marked the onset of the Industrial Revolution?
18th century
ExplanationThe Industrial Revolution began in the 18th century, transforming traditional economies through mechanization.
#2
Which economic theory emphasizes the role of government intervention in promoting industrialization?
Keynesian economics
ExplanationKeynesian economics advocates government intervention to promote industrialization and economic stability.
#3
Which factor is often considered a downside of rapid industrialization?
Environmental degradation
ExplanationEnvironmental degradation is a common downside of rapid industrialization, causing harm to ecosystems and natural resources.
#4
Which economic policy encourages the government's active role in industrial planning and development?
Planned economy
ExplanationA planned economy encourages the government's active role in industrial planning and development.
#5
Which economic concept emphasizes the importance of consumer demand in driving industrialization?
Demand-side economics
ExplanationDemand-side economics emphasizes the importance of consumer demand in driving industrialization and economic growth.
#6
Which of the following is considered a primary factor driving industrialization?
Technological advancements
ExplanationTechnological advancements drive industrialization by improving production processes and efficiency.
#7
In the context of industrialization, what does the term 'economies of scale' refer to?
The increase in production efficiency as the scale of production increases
ExplanationEconomies of scale signify improved efficiency with larger-scale production in industrial processes.
#8
Which sector typically experiences growth during the later stages of industrialization?
Service
ExplanationThe service sector tends to grow in later stages of industrialization as economies shift from manufacturing to services.
#9
What is the role of foreign direct investment (FDI) in industrial development?
It can stimulate economic growth and industrialization
ExplanationFDI stimulates economic growth and industrialization by bringing in external investments and expertise.
#10
Which industrialization model emphasizes the sequential progression from agriculture to industry to services?
Stages of growth model
ExplanationThe Stages of Growth model emphasizes the sequential progression from agriculture to industry to services in industrialization.
#11
What role does infrastructure play in fostering industrialization?
Facilitates industrial growth
ExplanationInfrastructure supports industrial growth by providing essential facilities and connectivity.
#12
Which factor is a common obstacle to sustainable industrialization in developing countries?
Access to technology
ExplanationLimited access to technology often hinders sustainable industrialization in developing nations.
#13
What is the significance of human capital in the process of industrialization?
It contributes to innovation and productivity
ExplanationHuman capital contributes to industrialization by driving innovation and enhancing productivity.
#14
In the context of industrialization, what does the term 'deindustrialization' refer to?
The decline of manufacturing industries in a region
ExplanationDeindustrialization refers to the decline of manufacturing industries in a specific region.
#15
What is the role of innovation in driving industrialization?
It fosters economic growth and industrial development
ExplanationInnovation drives industrialization by promoting economic growth and technological advancements.