Which of the following represents the broad definition of good institutions for economic growth?
A) Strong sense of patriotism.
B) Protection of property rights.
C) Heavy punishments for violations of laws.
D) Tax incentives for investments.
E) Highly regulated markets.

Question

Quizplus · Accepted Answer

Protection of property rights is a key element in a broad definition of good institutions for economic growth as it provides individuals and businesses with the confidence to invest and grow their businesses, knowing that their property and intellectual assets can be protected. While patriotism, heavy punishments, tax incentives, and regulated markets may play a role in economic growth, they are not as essential as property rights protection.

Which of the Following Represents the Broad Definition of Good