Which of the Following Is/are Required for Economic Growth

question 118

Multiple Choice

Which of the following is/are required for economic growth?
i.More goods and services produced per hour of work
ii.An increase in the average hours of labour per person
iii.An increase in prices

• A)i only
• B)i and ii
• C)ii and iii
• D)ii only
• E)i and iii

Apply proportion and ratio concepts to solve real-life problems.

Analyze problems to extract relevant information for calculations.

Employ mathematical operations to calculate amount of food or material needed in a recipe or project.

Utilize mathematics to plan and execute small-scale construction or renovation projects.

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Definitions:

Minimize Competition

Strategies or approaches aimed at reducing rivalry or conflict between individuals or entities in order to foster a more cooperative or harmonious relationship.

Commons Dilemma

A situation in which individuals' short-term selfish interests conflict with long-term group benefits and sustainability, often related to resource use.

Reward Allocation Scheme

A system or principle used to determine how rewards, such as bonuses or recognition, are distributed among members of a group or organization.

Competition And Conflict

Competition and conflict involve rivalry between individuals or groups, where the objectives of one are perceived to be in opposition to those of the other, potentially leading to disputes or confrontations.