JAMB Economics 2014 Objective — Question 34

Question 34 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2014 Objective paper, with the correct answer and a full explanation.

A major feature of an underdeveloped economy is a

A. low rate of population growth
B. low level of standard of livingCorrect
C. low level of unemployment
D. excess capacity utilization

Explanation

The standard of living in an underdeveloped country is usually low; the amount of goods and services available for an average person is usually low because of low income or poverty at large.

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