Q. The division of labour, according to Adam Smith, is limited by __________.
✅ Correct Answer: (C)
Both (a) and (b)
Economics of Development MCQs and Notes
Q. Under the ‘big-push’ strategy of development, large investments are to be directed towards __________.
✅ Correct Answer: (A)
Agriculture
Q. The basic logic behind the ‘big-push’ strategy of development is related to .
✅ Correct Answer: (B)
External economies
Q. Who fixes the poverty line?
✅ Correct Answer: (D)
Planning Commission
Q. Which among the following is a characteristic of underdevelopment?
✅ Correct Answer: (A)
Vicious circle of poverty
Q. In the context of which region was the 'big push' strategy of development formulated?
✅ Correct Answer: (C)
Eastern Europe
Q. Who formulated the theory of circular and cumulative causation which explains the perpetuation of underdevelopment through growing inequalities between developed and the underdeveloped countries?
✅ Correct Answer: (B)
Gunnar Myrdal
Q. The concept of, Vicious Circle of Poverty’ is related to __________.
✅ Correct Answer: (B)
Nurkse
Q. Myrdal builds his theory of economic development around the idea of__________ .
✅ Correct Answer: (C)
Both A and B
Q. In which year was the first volume of Das Capital be Karl Marx published?
✅ Correct Answer: (C)
1867