Economic Development

Movement from feudalism to capitalism and socialism, based on changes in ruling & oppressed classes. It's example of ........ theory

• Marxism

• Rostow

• Darwin

• Classical

Which is the LEAST developed among the following regions?

• North America

• South America

• East Asia

• Sub-Saharan Africa

Which level of development is a country where most people work at the subsistence level?

• More Developed

• Newly Industrialized

• Less Developed

Countries with high levels of literacy and higher education are in which level of economic development?

• More Developed

• Newly Industrialized

• Less Developed

Countries with weak infrastructure [communication/ transportation/ healthcare/ education systems] are in which level of economic development?

• More Developed

• Newly Industrialized

• Less Developed

True or False. Economic Development refers to how advanced an economy is.

• True

• False

Gross Domestic Product is...

• the total value of all goods and services produced by a nation in a year.

• the value of goods and services produced in a year in a nation by a person.

• a product that is domestically gross.

What is a key benefit of investing in education for economic development?

• It ensures that the country remains dependent on foreign aid
  

• It decreases the overall economic output

• It increases the number of unskilled labour jobs

• It enhances the capability of the workforce to meet the demands of modern economies

How does the development of public services (such as police, firemen, and healthcare) support economic development?

• By lowering the quality of life for residents

• By increasing the number of private healthcare facilities

• By providing security, reducing risks, and ensuring a healthy workforce

• By reducing government expenditure on social programs

What role does investment in innovation and technology play in economic development?

• It limits the potential for new industries to emerge

• It reduces the need for a skilled workforce

• It focuses on maintaining traditional production methods

• It drives economic growth through improved efficiency and new product development