| Direction: Study the following passage carefully and answer the questions given below: |
| Neoliberalism is a dominant ideology shaping our world today. It dictates the policies of governments, and shapes the actions of key Institutions such as the World Trade Organization, International Monetary Fund and World Bank. According to Saad-Filho and Johnston, it is impossible to overstate the political and economic implications of neoliberalism. It is a theory of political and economic practices that proposes that human well-being can best be advanced by liberating individual's entrepreneurial freedoms and skills within an institutional framework characterized by strong property rights, free markets and free trade. The role of the state is to create and preserve an institutional framework appropriate to such practices. |
A) Give strong property rights access towards the economic power
B) Provide free markets and free trade economic implications
C) Create an institutional framework appropriate to such practices
D) a and c
Correct Answer: C
Solution :
(c)| 1. Abduction reasoning |
| 2. Inference |
| 3. Performer and action analogy |
| The neoliberalism is characterized by strong property rights, free markets and free trade. The role of the state is to create and preserve an institutional framework appropriate to such practices. |
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