Which of the following factors will NOT increase economic development?
A) Increasing the amount of education in the population.
B) Establishing a system of property rights.
C) Creative destruction where old jobs, companies and industries are destroyed.
D) Increasing the amount of protectionism.

Question

Quizplus · Accepted Answer

Increasing protectionism, which is the use of tariffs and trade barriers to protect domestic industries, actually hinders economic development by reducing competition and limiting access to new technology and resources. The other options listed, increasing education, establishing property rights, and creative destruction through market competition, all contribute to economic development by increasing human capital, promoting efficient resource allocation, and encouraging innovation.

Which of the Following Factors Will NOT Increase Economic Development