Geography: Development Practice Test Questions! Quiz

The self-sufficiency approach aims to promote balanced growth of all economic sectors. This means that instead of focusing on a few specific industries, the approach encourages the development of multiple sectors simultaneously. By doing so, it ensures that the economy grows in a well-rounded manner, reducing the risk of overdependence on a single sector. This approach also helps in creating a diverse and resilient economy that can withstand external shocks and fluctuations in specific industries.

The correct answer is "attempts to spread investment through all sectors of the economy." The self-sufficiency approach to development focuses on reducing dependence on foreign trade by promoting investment in all sectors of the economy. This approach aims to develop a balanced and diversified economy, where all sectors contribute to growth and development. By spreading investment across various sectors, the self-sufficiency approach aims to create a strong and resilient economy that can support sustainable development.

Less developed countries often face challenges in financing their development due to their inability to repay loans. These countries may borrow money from international financial institutions or more developed countries to fund their development projects. However, factors such as economic instability, low productivity, and high levels of debt make it difficult for these countries to generate enough revenue to repay their loans. This inability to repay loans can lead to a cycle of debt and hinder the economic progress of these countries.

The biggest problem in promoting development through international trade is the unequal distribution of resources. This means that certain countries or regions have an abundance of resources while others lack them. This imbalance creates an unfair advantage for some countries, leading to unequal trade relationships and hindering the development of less resource-rich nations. This can result in economic disparities and hinder overall global development.

According to the international trade approach to development, a country should identify its abundant agricultural products, high quality manufactured goods, international consumer preferences, and abundant mineral resources as its assets. However, it should not identify imports that it should limit as an asset.

Requiring licenses for importers is a traditional barrier to international trade. This means that importers need to obtain a license from the government in order to bring goods into the country. This barrier can limit the number of imports and protect domestic industries by making it more difficult for foreign goods to enter the market. The other options listed, such as low taxes on imports, eliminating quotas, and strong demand, actually promote international trade rather than acting as barriers.