Podcast
Questions and Answers
What is the maximum portion of national income that comes from the agriculture sector?
What is the maximum portion of national income that comes from the agriculture sector?
- 10%
- 40% (correct)
- 30%
- 20%
Which of the following is not a salient feature of a modern/industrial economy?
Which of the following is not a salient feature of a modern/industrial economy?
- Export is dominated by industrial products
- Maximum portion of national income comes from the industrial sector
- Maximum proportion of population is engaged in the industrial sector
- Export is dominated by agricultural products (correct)
What is the key difference between economic growth and economic development?
What is the key difference between economic growth and economic development?
- Economic growth and economic development are the same thing
- Economic growth is a quantitative concept, while economic development is a qualitative concept (correct)
- Economic development is a subset of economic growth
- Economic growth is a subset of economic development
Which of the following is not a salient feature of a developed economy?
Which of the following is not a salient feature of a developed economy?
Which type of economy is characterized by the co-existence of technically advanced and primitive sectors?
Which type of economy is characterized by the co-existence of technically advanced and primitive sectors?
What is the main difference between the import and export patterns of a modern/industrial economy?
What is the main difference between the import and export patterns of a modern/industrial economy?
Which country is likely to have a high poverty ratio according to the given text?
Which country is likely to have a high poverty ratio according to the given text?
What is a common characteristic of underdeveloped/least-developed countries mentioned in the text?
What is a common characteristic of underdeveloped/least-developed countries mentioned in the text?
Which type of economy uses money as a medium of exchange according to the text?
Which type of economy uses money as a medium of exchange according to the text?
What is a distinguishing feature of a simple economy as described in the text?
What is a distinguishing feature of a simple economy as described in the text?
Which country from the list provided is an example of a developing economy according to the text?
Which country from the list provided is an example of a developing economy according to the text?
What is a characteristic of a closed economy as stated in the text?
What is a characteristic of a closed economy as stated in the text?
