5 Questions
Which of the following is NOT correct?
Development economics does not mention about efficient allocation of scarce resources
Sustainable development emphasizes
The hand-over of assets from one generation to the next
Comparing WB and UNDP country classification, which of the following is NOT correct?
The UNDP's criterion for country classification is closer to development goals
The global income gap between the richest and the poorest has been
Increasing
Fragmentation and agglomeration of production are directly facilitated by
Free trade agreements
Study Notes
Sustainable Development
- Sustainable development emphasizes the balance between economic growth, social equity, and environmental protection.
Country Classification
- World Bank (WB) and United Nations Development Programme (UNDP) use different classification systems for countries.
- There are discrepancies between WB and UNDP country classifications.
Global Income Gap
- The global income gap between the richest and the poorest has been widening, not decreasing.
- The income gap is a major challenge to global economic development and social stability.
Fragmentation and Agglomeration
- Fragmentation and agglomeration of production are facilitated by reduced transportation costs and improved communication infrastructure.
- This phenomenon has significant implications for international trade, economic growth, and competitiveness.
Test your knowledge of development economics with this multiple choice quiz. Circle the most appropriate answer for each question on topics such as traditional economics, development economics, and sustainable development.
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