GROUP 1

OVERVIEW OF ECONOMIC DEVELOPMENT

QUESTIONNAIRE

Direction: Choose the letter that best describes the answer.

1. Economic development focuses on
a. improving the standard of living of the individuals of an economy
through the implementation of policies, programs and
socioeconomic goals.
b. massive numbers of people worked in locations separate from their
families
c. not having enough money to meet basic needs including food,
clothing and shelter.
d. how we must live today if we want a better tomorrow, by meeting
present needs without compromising the chances of future
generations to meet their needs.
2. Economic development increases
a. Stress
b. Population
c. Resources
d. Inflation
3. Which is not a sector of the economy?
a. uses raw materials directly from the natural environment.
b. transforms raw materials into finished products
c. economy that provides services rather than products
d. human contributions and state how knowledge leads to growth.
4. Which of the following true about the post-industrial societies?
a. Work and home finally began to separate in the 1700s and 1800s as
machines and factories became the primary means of production
with the emergence of industrial societies.
b. This is the information age, in which smartphones, netbooks,
tablets, and other high-tech equipment have begun to replace
machines and factories as the major means of production
c. Whole industries developed to make the machines and build the
factories and to use the machines and factories to manufacture
household goods, clothing, and many other products.
d. No separate institution for the production and distribution of these
sources of food was involved.
5. Economic development is crucial in the Philippines because it
a. fosters overall national progress
b. generates employment
c. reduces poverty
d. All of the above
6. Which is not a Marxian Theory
a. production means the generation of value
 b. conomic development is the process of more value generating,
labour generates value
c. high level of production is possible through more and more capital
accumulation and technological improvement.
d. These theories highlight human contributions and state how
knowledge leads to growth.
7. Specialization of work is commonly known as
a. division of labor
b. craftspeople
c. merchants
d. hunting-and-gathering
8. Which of the activities is not included in the primary sector of the
economy?
a. agriculture
b. fishing
c. teaching
d. mining
9. Which of the activities is not included in the tertiary sector of the
economy?
a. clerical work
b. manufacturing
c. health care
d. teaching
10.Which is the following is a development of pre-industrial societies?
a. raised animals and/or grew crops
b. made plows, wheels, and other objects
c. the information age has brought with it jobs and careers
d. Whole industries developed to make the machines and build the
factories and to use the machines and factories to manufacture
household goods, clothing, and many other products.
11.What does economic development provide individuals with?
a. Limited resources and choices
b. Autonomy and personal responsibility
c. Dependence on the extended family
d. Cultural uniqueness and hierarchy
12.What is the cultural dimension of economic behavior?
a. A small and difficult-to-measure residual variable
b. The importance of formal institutions
c. Social norms that promote exchange, savings, and investment
d. The emphasis on embeddedness and hierarchy
13.Which sector of the economy involves activities such as agriculture, fishing,
forestry, and mining?
a. Primary sector
b. Secondary sector
c. Tertiary sector
d. Quaternary sector
14.What was a consequence of industrialization in terms of work specialization?
a. Workers became separated from the fruits of their labor
b. Workers had more control over their work
c. Workers had more opportunities for creativity
d. Workers had more flexible working hours
15.What characterizes a post-industrial economy?
a. The dominance of machines and factories in production
b. The emphasis on the secondary sector
c. The increasing importance of a college education
d. The reliance on craft work and artisanal production
16.What has the information age brought to the economy?
a. Increased globalization and interconnectedness
b. A decline in the importance of the tertiary sector
c. A shift towards manufacturing industries
d. A decrease in the need for technological skills
17.Who presented the classical theory of economic growth?
a) John Keynes
b) Robert Solow
c) Adam Smith
d) Paul Romer
18.Which theory emphasizes the role of human resources and technological
innovation in economic growth?
a. Classical theories of economic growth
b. Neoclassical theory
c. Endogenous theory
d. Marxian theory
19.What is one impact of a strong economy on the Philippines?
a. Decreased social stability
b. Reduced quality of life
c. Attraction of investments
d. Lack of essential services
20.What is one benefit of economic development in the Philippines?
a) Increased poverty rates
b) Reduced living standards
c) Enhanced employment opportunities
d) Decreased government funding