The part of the urban economy of LDC’s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?

Related Mcqs:

1. An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?

   A. Declining industry
   B. Decreasing cost industry
   C. Both
   D. None

2. Urban migration is causing the labour force to grow at annual rates of _____________in LDC?

   A. 10-20%
   B. 5-7%
   C. 30-35%
   D. 35-40%

3. Urban population in LDC’s_________________?

   A. 464 %
   B. 50 %
   C. 36 %
   D. 20 %

4. An essentially risk free, long term interest rate which is free of the influence of market imperfections?

   A. Pure rate of interest
   B. Economic rate of interest
   C. Nominal rate of interest
   D. None

5. The households and the business firms of the economy are called__________________?

   A. Public sector
   B. Ptivate sector
   C. Govt sector
   D. None

6. Rural based population in less developed countries (LDC’s) ?

   A. 65 %
   B. 45 %
   C. 75 %
   D. None

7. “All LDC’s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure.” ?

   A. Economic development theory
   B. Big Push theory of development
   C. Rostow’s development plan
   D. Harod Domes model

8. In LDC children under age of 15 years are ___________% of the total population?

   A. 40 %
   B. 50 %
   C. 80 %
   D. None

9. Group of LDC debtors who join together to bargain as a group with creditors?

   A. Debtor’s cartel
   B. Economic union
   C. Debtor’s commune
   D. None

10. A market in which products households sell and firms buy resources or the services of resources is__________________?

    A. Resource market
    B. Product market
    C. Consumer market
    D. Producer market