Tag: need for sustainable development

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Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic development is a more ___________ term as compared to economic growth.

  1. narrow

  2. comprehensive

  3. inclusive

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Economic development refers to the economic growth of the economy in all terms which includes all aspects and has become a main and central theme of economic thought throughout the years.
Economic growth refers to the process of using natural resources for the development of the economy in other to increase the per capita income of the economy.
Therefore, economic development is a broader as well as more comprehensive term as compared to economic growth. 
Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic development refers to ______________ accompanied by changes in the socio-economic structure of the economy.

  1. economic stability

  2. economic growth

  3. sustainable development

  4. all of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Economic development refers to the economic growth of the economy in all terms which includes all aspects and has become a main and central theme of economic thought throughout the years. 

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Traditional approach to economic development gave a __________ definition of economic development.

  1. broad

  2. narrow

  3. either A or B

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Because the traditional approach focuses almost exclusively on income growth, it is considered a narrow definition compared to the modern approach, which includes social and human development factors.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic development refers to economic growth accompanied by changes in the ____________ structure of the economy.

  1. social

  2. economic

  3. both A & B

  4. neither A nor B
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Economic development involves structural changes in both the economic system (e.g., shift from agriculture to industry) and the social system (e.g., education, health, and institutional reforms).

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic growth provides a broader outlook on economic changes as compared to economic development.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

False. 

Economic development refers to the economic growth of the economy in all terms which includes all aspects and has become a main and central theme of economic thought throughout the years.
Economic growth refers to the process of using natural resources for the development of the economy in order to increase the per capita income of the economy. 

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

_______________, under the modern approach, is interpreted as the increase in real per capita income accompanied with reduction in poverty, inequality and unemployment.

  1. Sustainable development

  2. Economic growth

  3. Growth with stability

  4. Economic development
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The modern approach defines economic development as a process that improves the quality of life, which includes rising income alongside reductions in poverty, inequality, and unemployment.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

The new approach to economic development states that, economic development is not only increase in real per capita income, but also reduction in _____________.

  1. poverty

  2. income inequality

  3. unemployment

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The new or modern approach to economic development emphasizes that growth is insufficient on its own; it must be accompanied by improvements in social welfare, specifically the reduction of poverty, inequality, and unemployment.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic growth requires higher degree of government intervention as compared to economic development.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

False. 

Economic growth refers to the process of using natural resources for the development of the economy in other to increase the per capita income of the economy. The growth mainly measures the per capita income rather than overall income of the economy.

Economic development refers to the economic growth of the economy in all terms which includes all aspects and has become a main and central theme of economic thought throughout the years. It includes reduction in poverty, income inequality as well as unemployment.  

Therefore, economic development requires a high degree of government intervention. 

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Modern approach to economic development gave a __________ definition of economic development.

  1. broad

  2. narrow

  3. either A or B

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The modern approach is considered a broad definition because it incorporates multiple dimensions of human well-being, including social, political, and economic factors, rather than just income growth.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

Economic growth is an entirely __________ concept, while economic development deals with both qualitatively and quantitative aspects of the economy.

  1. quantitative

  2. qualitative

  3. theoretical

  4. both B & C
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Economic growth refers to a quantitative process of using natural resources for the development of the economy in other to increase the per capita income of the economy. The growth mainly measures the per capita income rather than overall income of the economy.

Economic development refers to the economic growth of the economy in both quantitative as well as qualitative terms which includes all aspects and has become a main and central theme of economic thought throughout the years. It includes reduction in poverty, income inequality as well as unemployment.  
Therefore, economic development is a broader as well as more comprehensive term as compared to economic growth.