JAMB and WAEC Economics questions: Economic growth and development

30 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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   Explanation and discussion

2. Question 2· 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

3. Question 3· 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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4. Question 4· 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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5. Question 5· 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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6. Question 6· 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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7. Question 7· 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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8. Question 8· 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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9. Question 9· 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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10. Question 10· 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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11. Question 11· 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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12. Question 12· Economic growth and development· JAMB

    Infrastructure includes

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

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13. Question 13· 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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14. Question 14· 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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15. Question 15· 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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16. Question 16· 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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17. Question 17· 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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18. Question 18· 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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19. Question 19· 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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20. Question 20· 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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    Explanation and discussion