The School of Thought During the Seventeenth and Eighteenth Centuries

question 56

Multiple Choice

The school of thought during the seventeenth and eighteenth centuries proposing that the way for a nation to become richer was to restrict imports and stimulate exports was:

• A)Mercantilist
• B)Classical School
• C)Laissez Faire
• D)Opportunity cost

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Definitions:

Virtual Offices

Virtual offices provide businesses with an address and office-related services without the overhead of a long lease and administrative staff, offering a blend of remote work and physical office presence.

Selective Benefits

Advantages or perks provided by an organization or a policy that are available only to its members or a specific group of people.

Free-Rider Problem

A situation in which individuals receive benefits from a public good without contributing to its cost, leading to underprovision of those goods.

Selective Benefits

Selective benefits are advantages or perks provided exclusively to members of a group, organization, or society, rather than to the general public.