According to the Capabilities Approach, Democracy Is

question 49

Multiple Choice

According to the capabilities approach, democracy is:

• A) required for economic growth and essential in sustaining basic freedoms.
• B) not required for economic growth, but it is essential in sustaining basic freedoms.
• C) not required for economic growth and thus not a consideration when we discuss improving lives.
• D) required for economic growth and should only be considered when creating capabilities that directly contribute to growth.

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Definitions:

Purely Competitive Firm

A business that operates in a market where there are many sellers and buyers, the product is homogeneous, and there is free entry and exit from the market.

Units of Output

The quantity of goods or services produced by a company, industry, or economy within a specific period.

Marginal Revenues

The extra earnings accrued by selling an additional unit of a good or service.

Purely Competitive Firm

A company operating in a market with many buyers and sellers, where no single entity can influence the price of its product.