ECON 104: PROGRESS AND DEVELOPMENT

Quiz: Environment

COVERAGE:
 The Human Factor in Economic Development
 What is Economics?
 Some Definitions
 Tools in Economics

What is the primary objective of any development process?

A. Environmental conservation
B. Technological advancement
C. Socioeconomic welfare of man
D. Political stability

According to the text, what is the critical factor in innovation?

A. Technology
B. Capital
C. Man
D. Land

What does the term "innovation" refer to in the context of economic

development?
A. Traditional practices
B. Application of knowledge to production
C. Environmental sustainability
D. Government policies

How does economic development depend on man's knowledge, according to

the text?
A. Through coercion
B. Through differentiation
C. Through innovation
D. Through accommodation

In the context of the text, what is the central point about the process of
development?
A. Provision of social overhead capital
B. Increase in real income
C. Welfare of man
D. Technological advancements

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What is the primary objective when roads and bridges are being built,
according to the text?
A. Aesthetics
B. Upliftment of man
C. Environmental conservation
D. Technological advancement

What is the significance of increases in real income, as mentioned in the

text?
A. Availability of more goods and opportunities
B. Decrease in innovation
C. Dependency on social overhead capital
D. Technological stagnation

How does the text describe high school economics education in the past?
A. Stimulating and challenging
B. Exclusively descriptive and unappealing
C. Innovative and practical
D. Focused on environmental issues

According to the text, what has changed in economics education during the
last ten years?
A. Increased focus on memorization
B. Shift towards descriptive learning
C. Greater emphasis on economic concepts
D. Decreased interest in material progress

Which of the following is NOT mentioned as a definition of economics in the

text?
A. The study of wealth
B. The study of people earning and enjoying a living
C. The study of astronomy
D. The science that allocates scarce resources to satisfy human wants

What does the text identify as tools of economics?

A. Logic, technology, and history
B. Mathematics, statistics, and logic
C. Observation, assumptions, and deduction
D. Environmental science, psychology, and anthropology

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Which step in the scientific method involves relying on observation or
experiment?
A. Deduction
B. Definitions and assumptions
C. Empirical or statistical testing
D. Observation

According to the text, what is the key to success in understanding economic

development processes?
A. Memorization of facts
B. Logical reasoning and statistics
C. Technological advancements
D. Environmental sustainability

What does the text emphasize as the first step in explaining economic
phenomena?
A. Deduction
B. Observation
C. Definitions and assumptions
D. Empirical or statistical testing

What is described as a higher level of economic reasoning in the text?

A. Mastery of logical reasoning
B. Use of empirical evidence
C. Application of knowledge to production
D. Utilization of mathematics and statistics

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Answer Key:

1. C
2. C
3. B
4. C
5. C
6. B
7. A
8. B
9. C
10. C
11. B
12. D
13. B
14. B
15. D

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