Characteristics and Institutions of Developing Countries
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- Characteristics and Institutions of Developing Countrieseconomics-mcqs › characteristics-and-institutions-of-developing-countries
- Published
- 2 Jun 2019
- Last updated
- 28 May 2026
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Which of the following groups are considered part of the informal sector?
Multiple choice question for Characteristics and Institutions of Developing Countries. Select an option, then review the explanation below.
Explanation
The informal sector encompasses a wide range of participants including I - artisans, small-scale industrialists, and small shop owners; II - waste collectors, unlicensed taxi drivers, and repair workers; III - self-employed individuals; and IV - activities characterized by minimal capital, limited skills, and low barriers to entry. Therefore, all groups I, II, III, and IV are part of the informal sector.
More Characteristics and Institutions of Developing Countries MCQs
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- 1.What characteristic sets a dual economy apart from other types of economies?
- 2.What defines a dual economy in a country?
- 3.What is the ratio between the population density of developing nations and the total population of developed nations?
- 4.In low-income nations, how much surplus does the typical farming household generate?
- 5.If the real income of Developing Island rises from $120,000 in 2005 to $160,000 in 2006, and its population grows from 1,000 to 1,100 during that time, approximately how much did the real income per person increase?