WAEC 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· WAEC

   Development planning involves

   • Aremoving government
   • Bignoring the future
   • Cstopping investment
   • Dsetting targets and allocating resources over a period

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2. Question 2· Economic growth and development· WAEC

   An obstacle to economic development in many developing countries is

   • Ainadequate infrastructure
   • Btoo much capital
   • Cvery high savings
   • Dtoo few people needing goods

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3. Question 3· Economic growth and development· WAEC

   The vicious circle of poverty implies that

   • Ahigh income causes poverty
   • Blow income leads to low savings, low investment and again low income
   • Csavings are always high
   • Dinvestment is unnecessary

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4. Question 4· Economic growth and development· WAEC

   Which indicator measures economic development rather than just economic growth?

   • Atotal exports
   • Bthe GDP growth rate
   • Cthe Human Development Index
   • Dthe money supply

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5. Question 5· Economic growth and development· WAEC

   A country's output rises but most people's health and education do not improve. This shows

   • Adevelopment without growth
   • Bgrowth without development
   • Cinflation
   • Ddeflation

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6. Question 6· Economic growth and development· WAEC

   A major feature of developing countries is

   • Aheavy dependence on primary production
   • Bhigh income per head
   • Cadvanced technology everywhere
   • Dvery low birth rates

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7. Question 7· Economic growth and development· WAEC

   Rostow's stages of economic growth begin with the

   • Atake-off
   • Btraditional society
   • Cdrive to maturity
   • Dage of high mass consumption

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8. Question 8· Economic growth and development· WAEC

   Economic development differs from economic growth because development includes

   • Aonly a rise in output
   • Ba fall in population
   • Cimprovements in living standards and welfare
   • Dhigher taxes

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9. Question 9· Economic growth and development· WAEC

   Which of these is commonly used to measure a country's level of development?

   • Aexchange rate only
   • Bconsumer price index only
   • CHuman Development Index
   • Dnumber of banks

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10. Question 10· Economic growth and development· WAEC

    A characteristic of developing countries is

    • Aa low birth rate
    • Bhigh per capita income
    • Cheavy dependence on primary production
    • Da highly skilled workforce

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11. Question 11· Economic growth and development· WAEC

    Which of these could slow economic development in Nigeria?

    • Aa literate workforce
    • Ba large domestic market
    • Cabundant natural resources
    • Dinadequate infrastructure such as power supply

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12. Question 12· Economic growth and development· WAEC

    Per capita income is obtained by dividing national income by the

    • Arate of inflation
    • Bnumber of workers only
    • Cnumber of firms
    • Dtotal population

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13. Question 13· Economic growth and development· WAEC

    Economic development differs from economic growth in that development includes

    • Aimprovements in welfare, health and education
    • Bonly rising GDP
    • Conly population growth
    • Donly exports

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14. Question 14· Economic growth and development· WAEC

    Development planning in Nigeria aims mainly to

    • Aabolish the private sector
    • Bfix all prices
    • Cstop foreign trade
    • Dachieve set economic goals within a period

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15. Question 15· Economic growth and development· WAEC

    A characteristic of underdevelopment is

    • Ahigh savings
    • Bhigh life expectancy
    • Cadvanced technology
    • Dlow per capita income

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    Explanation and discussion