One study estimates that if India used the human and physical capital that it does have as efficiently as the United States uses its capital, it would be four times richer than it is today. This demonstrates the importance of:
a. honest government as an institution.
b. political stability as an important institution.
c. a dependable legal system as an institution.
d. competitive and open markets as an institution.

According to my research on different economic factors, I can say that based on the information provided within the question this demonstrates the importance of competitive and open markets as an institution. A competitive market cases prices to be lowered in order to compete as well as the use of specific strategies in order to succeed. This can affect the economy if resources are not used correctly. Open markets are the same with their absence of trade barriers, if they are not used accordingly in combination with the countries resources it may hurt the economy.

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madison3395 madison3395 · Answer 2 · 2019-10-22T02:36:22+02:00

madison3395 madison3395

22-10-2019

Answer:

d. competitive and open markets as an institution.

Explanation:

One study estimates that if India used the human and physical capital that it does have as efficiently as the United States uses its capital, it would be four times richer than it is today. This demonstrates the importance of competitive and open markets as an institution.

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