Which of the Following Characteristics Is a Precondition for Economic

question 232

Multiple Choice

Which of the following characteristics is a precondition for economic growth?
I.economic freedom
Ii.free markets
Iii.active government policy to discourage saving

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

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Definitions:

John Stuart Mill

A British philosopher and economist known for his contributions to utilitarianism and political economy.

Utilitarian Justice

A concept in ethics focusing on the greatest good for the greatest number of people as the criterion of justice.

Rawlsian Justice

A theory of justice that emphasizes fairness as the most important aspect of an ethical society, often associated with the "veil of ignorance" thought experiment.

Risk Averse

A term describing individuals or entities that prefer to avoid risks, often opting for the option with the most predictable outcome.