Economics Unit 4 Development

1. What does the Lewis model depict?

  • Industrialisation
  • Agricultural development
  • Tourism development
  • Investment
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2. What is an example of an outward looking strategy?

  • Microfinance
  • Subsidies
  • Trade liberalisation
  • Regulation

3. Why is the savings gap a limit on growth and development?

  • It creates inequality
  • It prevents investment in capital
  • It causes unemployment
  • It prevents the appreciation of a currency

4. 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

5. What type of aid has to be paid back?

  • Bilateral aid
  • Tied aid
  • Multilateral aid
  • Loan aid

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