A. Property rights and legally binding contracts
B. Regulatory Institutions
C. Free market institutions
D. Institutions for macroeconomic stability
Choose the correct answer from the options given below :
The question asks for the essential pre-requisites of a sound institutional structure that supports economic development. Let's analyze the components:
Identifying Key Institutional Pre-requisites
- A. Property rights and legally binding contracts: These are fundamental. Secure property rights encourage investment and efficient resource use. Legally binding contracts ensure predictability and facilitate transactions, forming the bedrock of economic activity.
- B. Regulatory Institutions: Effective regulatory bodies are crucial for enforcing laws, ensuring fair competition, protecting consumers and the environment, and managing market failures. They provide the framework within which economic actors operate.
- C. Free market institutions: While markets are vital for economic development, the emphasis here is on the *institutional structure*. A sound structure *enables* markets to function, rather than being solely defined by "free market institutions." Often, successful markets require regulation (covered under B).
- D. Institutions for macroeconomic stability: Predictable macroeconomic conditions (like stable inflation, manageable debt, and stable currency) are essential for long-term planning, investment, and overall economic confidence.
Determining the Core Requirements
A strong institutional structure requires clear rules (property rights, contracts), mechanisms for enforcement (regulatory institutions), and a stable operating environment (macroeconomic stability). While markets (C) are the arena where economic activity happens, they thrive within the framework provided by A, B, and D. Therefore, A, B, and D are considered the primary pre-requisites for establishing the foundational institutional structure.
Conclusion on Pre-requisites
Based on the analysis, the main pre-requisites for a sound institutional structure for economic development are Property rights and legally binding contracts (A), Regulatory Institutions (B), and Institutions for macroeconomic stability (D).
Selected Correct Option
The option that includes A, B, and D is the correct choice.
Important Questions from Miscellaneous
- Which of the following relationships is/are not true?
(A). Most probable velocity = $\sqrt{\frac{2RT}{M}}$
(B). PV = $\frac{3}{2}kT$
(C). Compressibility factor Z = $\frac{pV}{nRT}$
(D). Average kinetic energy of gas = $\frac{1}{2}kT$
Choose the correct answer from the options given below - Match List-I with List-II
List-I List-II Electronic Configuration First Ionisation energy (kJ mol$^{-1}$) (A). ns$^2$ (I). 2100 (B). ns$^2$np$^1$ (II). 1400 (C). ns$^2$np$^3$ (III). 800 (D). ns$^2$np$^6$ (IV). 900
Choose the correct answer from the options given below: - The shielding constant of a 2p electron (calculated using Slater's rules) is
- Match List-I with List-II
List-I List-II Spectroscopy Property (A). Raman (I). Polarizability (B). FTIR (II). Dipole Moment (C). UV-Visible (III). Absorbance (D). NMR (IV). Spin
Choose the correct answer from the options given below: - The structure of protein comprises of:
(A). Primary structure of protein is associated with amino acids
(B). Secondary structure of protein is associated to peptides
(C). Tertiary structure of protein is associated with polypeptide chains
(D). Quaternary structure of protein is associated with polypeptide chains
Choose the correct answer from the options given below:
