Which of the Following Factors Is NOT Generally Viewed by Economists

question 187

Multiple Choice

Which of the following factors is NOT generally viewed by economists as critical to economic growth?

• A) strong and fair legal system
• B) stable monetary system
• C) access to large amounts of natural resources
• D) economic freedom

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Definitions:

Production Possibility Curve

A graphical representation showing the maximum combination of goods or services that can be produced with available resources and technology.

Economic Resource

Assets or inputs used in the production of goods and services, including land, labor, capital, and entrepreneurship.

Affluent Society

refers to a society that enjoys a higher standard of living due to significant wealth accumulation, leading to a focus on consumerism and allocation of resources beyond basic needs.

Economic Problem

The fundamental challenge of meeting the unlimited needs and desires of individuals with limited resources, necessitating choices and priorities in allocation.