Economics Unit 4 Development

1. What model describes the savings gap?

  • Harrod-Domar
  • Marshall-Lerner
  • Prebisch-Singer
  • Lewis
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2. What does the Lewis model depict?

  • Tourism development
  • Investment
  • Industrialisation
  • Agricultural development

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

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

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

  • China
  • Angola
  • India
  • Argentina

5. What can overfocus on one sector of the economy cause in terms of development?

  • Economies of scale
  • Crowding out
  • Sectoral imbalance
  • Economic growth

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