Correct Answer: B. import substitution

Correct Answer: D. consumption

Explanation

(a) Movement to another country is emigration and movement into a country is immigration. Net migration is the difference between emigration and immigration.

(b) The economic effects of rural to urban migration.

(i) It increases the level of urban unemployment because of the rural-urban drift

(ii) Agriculture (food production) is reduced since the youths actively involve in agriculture move to urban areas.

(iii) Population explosion in cities increases the demand for social services like hospital, school, electricity, etc.

(iv) It leads to social problems such as homelessness, immorality, armed robbery which disrupt economic activities.

(v) Uneven distribution in population causes business activities to concentrate in urban centres.

(vi) The migrants provide cheap labour for the factories and other organizations in the urban centres.

Correct Answer: A. Over-dependence on foreign products

Explanation

Characteristics Low per Capita Income Inequitable Distribution of Wealth and Income Predominance of Agriculture Deficiency of Capital High Rate of Population Growth Unemployment and Underemployment A Dualistic Economy Technical Backwardness dependence on foreign products

Correct Answer: B. competitive

Correct Answer: B) the average use of money in purchasing final output

Explanation

The question is asking about the velocity of money. The velocity of money is a measure of how quickly money is exchanged in an economy. This means how often a unit of money is used to buy goods and services in a given period. The options are A to D. Option A says the velocity of money measures how each unit of money is used to buy final output. Option B, which is the correct answer, says the velocity of money measures the average use of money in purchasing final output. Option C says the average use of money by consumers in purchasing consumers goods measures the velocity of money. Option D says the business sector's average use of money measures the velocity of money.

To understand this better, let's take an example. If a person earns $100 and uses it to buy groceries, the grocery store now has the $100. The grocery store can then use this $100 to pay its suppliers, who can then use the $100 to pay their employees, and so on. In this example, the $100 has a velocity of 1 because it was used once to buy groceries. Now, imagine if the same $100 was used to buy groceries, then the grocery store used it to pay suppliers, who then used it to pay their employees, and so on. In this case, the $100 has a velocity of 4 because it was used four times in the economy.

Therefore, the correct answer is option B: the velocity of money measures the average use of money in purchasing final output. It is important to note that a higher velocity of money generally indicates a healthier economy because it means money is changing hands more frequently.

Correct Answer: B. Less than doubled

Correct Answer: A. may lose a maximum of the amount he has invested

Correct Answer: B. Population may outgrow the means of subsistence

Correct Answer: C. decrease by 2%