Choose given statement is true/false:

Democracy is a guarantee of economic development.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Dictatorships have experienced a marginally faster rate of economic growth throughout the fifty years between 1950 and 2000. It is concerning that democracies cannot achieve greater economic development. However, this cannot be the only justification for opposing democracy. Numerous factors affect economic development, including the size of the nation's population, the state of the world, international cooperation, the priorities the nation has set for its economy, etc. The rates of economic progress of less developed nations with dictatorships and democracies, however, barely differ from one another. In general, we cannot assert that democracy would result in economic growth. But we can anticipate that democracy won't fall behind.
The correct statement should be that democracy doesn't guarantee economic development.

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