IGCSE Economics Paper-2: Specimen Questions with Answers 41 - 42 of 100

Get top class preparation for Bank-PO right from your home: get questions, notes, tests, video lectures and more- for all subjects of Bank-PO.

Passage

“Economic and social conditions are giving profession choosing criteria and should be in accordance with labor market providing and the youngers expectations and needs. Job stability, salary, company reputation, prospects for promotion or opportunity to practice as many jobs are currently most common criteria”

Question 41 (5 of 5 Based on Passage)

Edit

Write in Short

Short Answer▾

Why wages differ?

Explanation

  • The wage paid to different individuals differs based on their experience, skills, and ability to work. It may also be the result if job is unionized, as the labor unions works to increase compensation and things provided based on free market conditions.
  • Also, this condition differs across several occupations because of change in demand and supply for jobs. The reason for these differences is because of differences in the amount of education and training for a desirable job.

Passage

Poverty means of not having enough possessions or material or income to fulfill the basic needs of a person.

Question 42 (1 of 5 Based on Passage)

Edit

Write in Short

Short Answer▾

How can be poverty eradicated?

Explanation

Poverty can be eradicated by using the following measures:

  • Control of population: Poverty can be removed by controlling the population in the countries. Controlling of population leads to increase in the per capita income of the country. People must be made aware of it.
  • Employment opportunities: Employment must be generated for the people both in urban as well as rural areas. Small scale and cottage industries must be promoted to increase employment.
  • Reduce inequality: By reducing the disparities in income i.e.. by minimizing the gap between the rich and the poor job and education opportunities must be provided to remove poverty.
  • Land reforms: Through various land reforms measures by the government small farmers must be provided employment and thereby help in removing poverty.
  • Social security measures: Various social security services like medical and health services, provident fund, pension etc. must be provided to the rural and urban population to overcome poverty. It will lead to improvement in the living standards of people.
  • Balanced regional development: Government in its budget must introduce and allocate funds for the development of the backward region.
Population Growth

Developed by: