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S2 T2 Econ Quiz 1
Question | Answer |
---|---|
1. State the three indicators to evaluate the economic development of a country. (3 marks) | Gross Domestic Product (GDP), per capita GDP and the economic structure. |
2. What is Gross Domestic Product? (3 marks) | total market value of goods and services produced by economic activities within its territory in a given period |
3. What is per capita GDP? (2 marks) | total gdp/population in the same year. |
4. What is the Reform and Opening-up policy? (3 marks) | national policy implemented by the Mainland since the end of 1978. aims at ‘carrying out internal reforms and opening up to the outside world’. |
5. According to the World Bank, how can a country be recognized as a developed country in terms of per capita GDP? (1 mark) | when the per capita GDP exceeds US$10 000. |
6. What is industrial structure? (2 marks) | statistical classification of various economic activities. three major industries: primary, secondary and tertiary industry. |
7. What is primary industry? Give two examples. (2 marks) | production sectors that obtain resources directly from nature, such as forestry, fishing |
8. What is secondary industry? Give two examples. (2 marks) | sectors that reprocess primary products, such as industry, supply of gas |
9. What is tertiary industry? Give two examples. (3 marks) | sectors that provide various services for production and consumption, such as retail, finance |
10. What are the achievements of the Reform and Opening-up policy of China? (4 marks) | relieved the population pressure of the rural areas, while promoting the diversified industrial development of China. led to the growth of GDP and the diversification of industrial development. |