Choose the correct statement. 1. Economic freedom requires free markets. 2. The

Question

Choose the correct statement. 1. Economic freedom requires free markets. 2. The most basic precondition for economic growth is an appropriate incentive system. 3. Population growth is essential to economic growth. 4. The three institutions that are crucial to the creation of incentives are markets, property rights, and education. A. Statements 3 and 4 are correct. O B. Statements 1 and 2 are correct. ° C. Statements 2 and 4 are correct. 0 D. Statements 1 and 3 are correct. Click to select your answer

Explanation / Answer

The correct option is B.

because economic freedom include freedom from want and freedom to engage and the freedom to engage in collective bargaining requires free market. The free market defeine economic freedom as freedom to produce, bargain and trade.

the most basic precondition foer economic growth should be an appropriate incentive.

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