One of the main social factors that encourages economic development is
A) clearly defined property rights
B) a system of price controls to eliminate inflation
C) the separation of Church and State
D) bilingualism
E) freedom of speech and artistic expression

Question

Quizplus · Accepted Answer

Clearly defined property rights encourage investment and entrepreneurship, as individuals are more likely to take risks and invest in their property when they feel confident that their property rights are protected. This can lead to economic development through greater innovation and productivity. Price controls (B) and the separation of Church and State (C) may have some impact on economic development, but they are not as strong of factors as property rights. Bilingualism (D) and freedom of speech and artistic expression (E) may be important for cultural development, but they are not directly linked to economic development.

One of the Main Social Factors That Encourages Economic Development