Answer:
Combining the two views, we can say Legislature or Parliament is that branch of government which performs the function of lawmaking through deliberations. The legislature is that organ of the government which passes the laws of the government.
Explanation:
The selection of the highest point on the production possibilities frontier is most likely to result in the largest increase in economic growth over time.
<h3>What is production possibility frontier?</h3>
Production possibility frontier shows that there limits on production and that a good will increase of there is a corresponding increase in another.
may increase only if the production of the other commodity decreases.
The two products or commodity will depend upon the resource for manufacturing.
Therefore, the selection of the highest point on the production possibilities frontier is most likely to result in the largest increase in economic growth over time
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Answer:
- Honesty.
Explanation:
<u>Confucianism is elucidated as the moral system(based on philosophical as well as ethical principles or teachings) that guides humans to lead a simple life</u>. It is also known as 'Ruism' and first developed in ancient China by Mencius.
As per the question, the philosophy was entirely based on ethical as well as moral principles like humanity, respect, generosity, loyalty, harmony, reverence for elders, and justice. Since <u>'honesty' is one of the key moral values that directs humans to live in harmony</u>, it would be the feature which Confucianism is based upon.
Self interest helps achieve society's economic goals because it encourages each economic agent to look for maximum benefits at the minimum cost possible
In economics, self-interest is the idea that the best economic benefit for all can usually be accomplished when individuals act in their own self-interest.
Self-interest refers to actions that elicit personal benefit. Adam Smith, the father of modern economics, explains that individuals usually benefit most from acting in their own interests. According to his theory, the Invisible Hand creates goods and services that benefit both producers and consumers when dozens or even thousands act in their own self-interest.
Economies in which goods and services can be freely exchanged are characterized by self-interest and competition. As a result of these forces, good and services supply and demand as well as their value are influenced.
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