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Economic Development and Revitalization

Description: This quiz will test your knowledge on Economic Development and Revitalization.
Number of Questions: 15
Created by:
Tags: economic development revitalization urban planning
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What is the primary goal of economic development and revitalization?

  1. To increase the standard of living for residents.

  2. To attract new businesses and industries.

  3. To create jobs and reduce unemployment.

  4. To improve the overall quality of life in a community.


Correct Option: D
Explanation:

Economic development and revitalization aim to improve the overall quality of life in a community by increasing the standard of living, attracting new businesses and industries, creating jobs, and reducing unemployment.

Which of the following is NOT a common strategy for economic development and revitalization?

  1. Investing in infrastructure and public amenities.

  2. Providing tax incentives to businesses.

  3. Creating job training programs.

  4. Implementing zoning regulations.


Correct Option: D
Explanation:

Zoning regulations are typically used to control land use and development, rather than to promote economic development and revitalization.

What is the term for the process of attracting new businesses and industries to a community?

  1. Economic diversification.

  2. Business recruitment.

  3. Industrial development.

  4. Site selection.


Correct Option: B
Explanation:

Business recruitment is the process of attracting new businesses and industries to a community by offering incentives, such as tax breaks or free land.

What is the term for the process of creating jobs and reducing unemployment?

  1. Workforce development.

  2. Job creation.

  3. Economic growth.

  4. Entrepreneurship.


Correct Option: B
Explanation:

Job creation is the process of creating new jobs and reducing unemployment by attracting new businesses and industries, investing in infrastructure, and providing job training programs.

What is the term for the process of improving the overall quality of life in a community?

  1. Community development.

  2. Quality of life improvement.

  3. Social development.

  4. Sustainable development.


Correct Option: A
Explanation:

Community development is the process of improving the overall quality of life in a community by investing in infrastructure, public amenities, and social programs.

Which of the following is NOT a common challenge faced by communities seeking to revitalize their economies?

  1. Declining population.

  2. Aging infrastructure.

  3. Lack of access to capital.

  4. High crime rates.


Correct Option: D
Explanation:

High crime rates are typically not a challenge faced by communities seeking to revitalize their economies, as they are more likely to be a problem in communities that are already economically distressed.

What is the term for the process of investing in infrastructure and public amenities?

  1. Capital investment.

  2. Infrastructure development.

  3. Public works.

  4. Urban renewal.


Correct Option: B
Explanation:

Infrastructure development is the process of investing in infrastructure and public amenities, such as roads, bridges, schools, and parks.

What is the term for the process of providing tax incentives to businesses?

  1. Tax abatement.

  2. Tax credit.

  3. Tax exemption.

  4. Tax increment financing.


Correct Option: A
Explanation:

Tax abatement is the process of providing tax incentives to businesses, such as reducing or eliminating property taxes for a period of time.

What is the term for the process of creating job training programs?

  1. Workforce development.

  2. Job training.

  3. Vocational education.

  4. Apprenticeship.


Correct Option: A
Explanation:

Workforce development is the process of creating job training programs and providing other services to help people find and keep jobs.

What is the term for the process of implementing zoning regulations?

  1. Land use planning.

  2. Zoning.

  3. Growth management.

  4. Smart growth.


Correct Option: B
Explanation:

Zoning is the process of implementing zoning regulations, which are used to control land use and development.

Which of the following is NOT a common type of economic development and revitalization project?

  1. Building a new sports stadium.

  2. Creating a downtown business district.

  3. Developing a new industrial park.

  4. Preserving historic buildings.


Correct Option: D
Explanation:

Preserving historic buildings is typically not a common type of economic development and revitalization project, as it does not directly create jobs or attract new businesses.

What is the term for the process of measuring the economic impact of a development project?

  1. Cost-benefit analysis.

  2. Economic impact analysis.

  3. Fiscal impact analysis.

  4. Return on investment analysis.


Correct Option: B
Explanation:

Economic impact analysis is the process of measuring the economic impact of a development project, such as the number of jobs created, the amount of tax revenue generated, and the increase in property values.

Which of the following is NOT a common source of funding for economic development and revitalization projects?

  1. Government grants.

  2. Private investment.

  3. Non-profit organizations.

  4. Crowdfunding.


Correct Option: D
Explanation:

Crowdfunding is typically not a common source of funding for economic development and revitalization projects, as it is difficult to raise large amounts of money through crowdfunding.

What is the term for the process of evaluating the effectiveness of an economic development and revitalization project?

  1. Performance evaluation.

  2. Outcome evaluation.

  3. Impact evaluation.

  4. Cost-effectiveness analysis.


Correct Option: C
Explanation:

Impact evaluation is the process of evaluating the effectiveness of an economic development and revitalization project by measuring the actual impact of the project on the community.

Which of the following is NOT a common challenge faced by communities seeking to revitalize their economies?

  1. Declining population.

  2. Aging infrastructure.

  3. Lack of access to capital.

  4. High crime rates.


Correct Option: D
Explanation:

High crime rates are typically not a challenge faced by communities seeking to revitalize their economies, as they are more likely to be a problem in communities that are already economically distressed.

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