The Basic Requirements for an Effective Financial System in a Developed

question 52

Multiple Choice

The basic requirements for an effective financial system in a developed economy include:

• A) a store of gold reserves
• B) markets for the sale of goods and services
• C) markets for the transfer of financial assets
• D) a freely elected government to oversee markets

---

Definitions:

Positive Relationships

Interactions or connections between individuals that are characterized by mutual respect, cooperation, and positive feelings.

Empowerment

The process of increasing the capacity of individuals or groups to make choices and transform those choices into desired actions and outcomes.

Effective Leadership

The ability to successfully guide and motivate a group toward achieving its goals while maintaining group cohesion and individual satisfaction.

Peter Drucker

A renowned management consultant, educator, and author, often considered the father of modern management theory.