The part of the urban economy of LDC's characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?
Correct answer: C. Informal sector
- A. Formal sector
- B. Formal finance
- C. Informal sector
- D. Informal finance
Explanation
The informal sector consists mainly of small, often family-run enterprises with low capital use, free entry, and prices determined by the market. The formal sector is more regulated and institutionally organized.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
Practise Agricultural Economics and Extension
190 free Agricultural Economics and Extension MCQs from Agriculture, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Agriculture questions like this
Agriculture is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
More Agricultural Economics and Extension questions
The annual amount that a borrower must pay a lender over an above the total borrowed ?
The currency of a major industrial country, such as the U.S dollar___________________?
The width of the area treated in one pass by a sprayer or other applicator is called___________________?
Any system that features one price for sellers and another for buyers ?
Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
The increasing integration of national economies into expanding international market ?