Choose if the 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 economic growth rate throughout the fifty years between 1950 and 2000. It is concerning that democracies cannot achieve more significant 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, etc. The rates of economic progress of less developed nations with dictatorships and democracies rarely differ from one another.
The correct statement is, Democracy is not the sole guarantee of economic development.

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