JAMB Economics questions: Economic growth and development

15 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Economic growth and development· JAMB

   Foreign aid can help development by

   • Araising illiteracy
   • Bincreasing debt only
   • Creducing exports
   • Dproviding capital and technical skills

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   Explanation and discussion

2. Question 2· Economic growth and development· JAMB

   The vicious circle of poverty describes how

   • Aexports equal imports
   • Bhigh income causes inflation
   • Cpopulation growth always stops
   • Dlow income leads to low saving, low investment and therefore low income again

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3. Question 3· Economic growth and development· JAMB

   An economy that depends heavily on a single export such as crude oil is described as

   • Aa closed economy
   • Ba diversified economy
   • Ca mono-product economy
   • Da command economy

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4. Question 4· Economic growth and development· JAMB

   Economic development differs from economic growth because development also involves

   • Aonly population growth
   • Bonly an increase in GDP
   • Cimprovements in living standards and economic structure
   • Da rise in imports

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5. Question 5· Economic growth and development· JAMB

   Sustainable development means

   • Aignoring the environment
   • Brapid exploitation of resources
   • Cmeeting present needs without compromising future generations
   • Dstopping growth

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6. Question 6· Economic growth and development· JAMB

   Saving is important for economic growth because it

   • Araises consumption
   • Breduces production
   • Cprovides funds for investment
   • Dincreases imports

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   Explanation and discussion

7. Question 7· Economic growth and development· JAMB

   The Human Development Index combines measures of

   • Apopulation and land area
   • Blife expectancy, education and income
   • Cexports and imports
   • Dinflation and unemployment

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8. Question 8· Economic growth and development· JAMB

   Infrastructure includes

   • Aonly factories
   • Broads, power and water supply
   • Conly farms
   • Donly banks

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9. Question 9· Economic growth and development· JAMB

   An indicator of economic development is

   • Ahigher infant mortality
   • Brising illiteracy
   • Ca rising Human Development Index
   • Dfalling life expectancy

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10. Question 10· Economic growth and development· JAMB

    Capital formation means

    • Aprinting money
    • Bthe increase in the stock of capital goods
    • Cconsumption
    • Dimporting food

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    Explanation and discussion

11. Question 11· Economic growth and development· JAMB

    A major obstacle to economic development in Nigeria is

    • Ainadequate infrastructure such as power and roads
    • Btoo many skilled workers
    • Cvery low population
    • Dexcess capital

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12. Question 12· Economic growth and development· JAMB

    Foreign direct investment helps development by bringing

    • Aonly imports
    • Bonly loans
    • Conly aid
    • Dcapital, technology and jobs

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13. Question 13· Economic growth and development· JAMB

    Human capital development refers to investment in

    • Aforeign reserves
    • Bmachinery
    • Croads and bridges
    • Deducation and health

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14. Question 14· Economic growth and development· JAMB

    A rolling plan is a development plan that

    • Ais never written down
    • Blasts for twenty years unchanged
    • Cis revised and extended every year
    • Dcovers one month

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15. Question 15· Economic growth and development· JAMB

    Nigeria's NEEDS programme of 2004 stood for

    • ANational Economic Empowerment and Development Strategy
    • BNational Education and Employment Development Scheme
    • CNew Economic Export Development System
    • DNational Energy and Electricity Development Strategy

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    Explanation and discussion