Economics Unit 4 Development

1. What model describes the savings gap?

  • Marshall-Lerner
  • Harrod-Domar
  • Lewis
  • Prebisch-Singer
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2. What is an example of an inward looking development strategy?

  • Import substitution
  • Encouraging investment
  • Trade liberalisation
  • Abolising minimum wage

3. What country has developed on the basis of primary product dependency?

  • USA
  • Chile
  • India
  • China

4. Microfinance tends to be given to which group?

  • Women
  • Teachers
  • Children
  • Big business owners

5. What is it called when a country is dependent on the export of one commodity?

  • Export led growth
  • Primary product dependency
  • Export reliance
  • Savings gap

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