SSE 12 Quiz 3.1

What is the primary objective of an economic development plan?

• To increase government revenue

• To achieve specific socio-economic goals

• To reduce unemployment rates

• To promote international trade

Which of the following is NOT a characteristic of mixed economies?

• Complete reliance on agriculture

• Coexistence of modern and traditional sectors

• Government intervention in key areas

• Private sector drives production

What does planning help to address in the context of market failures?

• Excessive government control

• Overproduction of goods

• Inefficiencies in resource allocation

• High levels of competition

Which of the following is a key strategy in economic development planning?

• Reducing taxes for all sectors

• Promoting industrialization and infrastructure development

• Focusing solely on urban development

• Limiting foreign investments

What is the purpose of resource mobilization?

• To reduce government spending

• To gather and utilize resources for development objectives

• To increase market competition

• To eliminate poverty completely

Which of the following is a characteristic of less developed countries (LDCs)?

• High-income economies

• Significant structural challenges to sustainable development

• Advanced technological infrastructure

• Strong industrial sectors

What is the role of planning in reducing uncertainty?

• It eliminates all risks

• It minimizes risks and prepares for future uncertainties

• It guarantees economic growth

• It focuses only on immediate needs

Which of the following is a type of market failure?

• Efficient resource allocation

• High consumer demand

• Public goods

• Perfect competition

What is the first step in the planning process?

• Analysis

• Implementation

• Goal Setting

• Data Collection

Which of the following is a benefit of foreign aid?

• Fills funding gaps

• Reduces local investments

• Encourages dependency

• Increases corruption