Economics Unit 4 Development

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

  • Savings gap
  • Export reliance
  • Primary product dependency
  • Export led growth
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2. What effect would debt cancellation have on developed countries?

  • Shareholders would carry some of the burden
  • Unemployment
  • Inflation
  • More imports

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

  • USA
  • Chile
  • India
  • China

4. What is an example of an inward looking development strategy?

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

5. Which of these countries' development has been prevented due to civil war?

  • Angola
  • Argentina
  • India
  • China
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