Economic Development
Gujarat Board · Class 10 · Social Science
Practice quiz for Economic Development — Gujarat Board Class 10 Social Science. MCQs and questions with answers to test your preparation.
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Quick Quiz: Economic Development
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What is economic development?
According to the World Bank report 2004, countries with per capita income less than how much are categorized as developing economies?
What are the four factors of production?
Agriculture and cattle rearing belong to which sector of the economy?
Sample Questions
Which of the following are features of a developing economy? (Select all correct answers)
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Low per capita income, High population growth rate, Dependence on agriculture, Unemployment
Developing economies are characterized by low per capita income, high population growth (2% or more), dependence on agriculture (more than 60% population), and unemployment. However, they have unequal distribution of income, not equal distribution.
Which economic system is also known as 'Free Economy'?
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Market System
The market system is also known as 'Free Economy' because the government does not interfere in economic activities, and the market operates freely based on competition and profit motives.
In a mixed economy, which sectors coexist? (Select all correct answers)
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Public sector, Private sector
In a mixed economy, both public and private sectors coexist. They work as complementary to each other rather than as competitors, with private ownership in areas like agriculture and trade, while the state owns key industries.
What does 'per capita income' mean?
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Total income divided by total population
Per capita income is obtained by dividing the total income (national income) of the country by the total population of the country. It represents the average income per person.
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