Economics Quiz

Which of the following best defines an economy?

• A system of social interaction

• A system of producing, distributing, and consuming goods and services

• A political structure of a country

• A religious belief system

Which sector is considered the largest contributor to Pakistan's GDP?

• Health

• Agriculture

• Services

• Education

What is a major problem facing Pakistan's agricultural sector?

• High urbanization

• Lack of education

• Water scarcity

• Advanced technology

Which of the following solutions would be most effective in addressing water scarcity in Pakistan's agriculture?

• Increasing urban population

• Using advanced irrigation techniques

• Reducing farm sizes

• Importing more seeds

What is a significant challenge in Pakistan's industrial sector?

• Overproduction

• Energy shortages

• Excessive exports

• High agricultural production

What is the primary function of a stock exchange?

• Selling agricultural products

• Facilitating buying and selling of company shares

• Educating investors

• Setting government policies

Economic growth is best defined as an increase in:

• Education levels

• Population size

• Production and income over time

• The unemployment rate

Which of the following differentiates economic development from economic growth?

• Economic development focuses on quantity, not quality

• Economic growth involves structural changes

• Economic development includes improvement in living standards

• Economic growth focuses on quality of life

A major obstacle to economic development in Pakistan is:

• Low GDP growth

• High literacy rate

• Abundant natural resources

• Urbanization

Human Development Index (HDI) is a measure that includes all the following EXCEPT:

• Life expectancy

• Gross National Income per capita

• Population growth rate

• Education level