Which of the Following Has Not Been a Factor in the Development

question 93

Multiple Choice

Which of the following has not been a factor in the development of the Singapore economy?

• A) the oversight of Lee Kuan-yew
• B) a massive program of public works projects
• C) oil refineries and a well-developed banking center
• D) a highly favorable climate for multinational corporations
• E) a democratic government

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Definitions:

Market Efficiency

Market efficiency refers to the extent to which market prices fully reflect all available information, leading to an optimal allocation of resources.

Ideal Market

A theoretical or perfect market condition where there are many buyers and sellers, no barriers to entry, and complete access to information.

Rent-Seeking

Actions by individuals and groups designed to restructure public policy in a manner that will either directly or indirectly redistribute more income to themselves or the projects they promote.

Monopoly Power

The ability of a single seller or company to control the market price and supply of a product or service.