Choose the given statement that is true/false.

Having a democratic government in the country is the only factor we need for economic growth and development.

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True

False

answer is B.

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Detailed Solution

This statement is false.
Rather than the type of government and its economic policies that impact economic growth and development, several other factors influence the economic prosperity of a country. These factors include the global financial situation, size of the country, population, geographical position, natural resources, economic priorities of a nation, level of technology, etc. All these aspects play a vital part in increasing and decreasing the economic development of a country. Democratic government can confirm the way towards progress by, for instance, diminishing the economic unevenness by initiating unique economic schemes for the inferior to uplift them.
The correct statement is having a democratic government in the country is not the only factor we need for economic growth and development.

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