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Which of the following statements is/are correct? 1. Many economists argue that it is weak institutional structures that are fundamental cause of underdevelopment. 2. Institutions are the humanly devised constraints that shape human interactions. 3. Economic institutions influence the structure of economic incentives in the society. 4. Extractive institutions create 'vicious circles' where poor governance, property rights violations, and rent-seeking hinder long-term economic development and investor confidence. Select the correct answer using the codes given below.
Correct Answer: (d)
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This question appeared in the APSC Prelims 2025 examination (GS). It is Question 74 out of 180 questions in this paper.
This question was part of the APSC Prelims 2025 (GS). The APSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all APSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.