Question

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:Please choose the correct answer from the following choices, and then select the submit answer button.Answer choicespolitical stability as an important institution.a dependable legal system as an institution.honest government as an institutionpetitive and open markets as an institution.

Answer 1

Answer:

The correct option is: Competitive and open markets as an institution.

Explanation:

The United States has managed to enhance the country's human capital by opening new markets and providing job opportunities to many people.

Similarly, India needs to create new marketing policies where people are encouraged to prepare, to be more competitive and to work hard to achieve a better socioeconomic development of the country.

India needs to know the market and enhance the formation of human capital.