Answer to Question #234966 in Economics for CVW

Question

Answer the questions using the video here: https://m.youtube.com/watch?v=PZpDjxIPpFc

1. List criteria you would use to determine which country is number 1
2. What is difference between freedom & democracy?

Answer 1

1. The criteria you would use to determine which country is number 1 are:

• The difficulty of doing business,
• Efficiency of law and court system,
• GDP per capita level etc.

2. Freedom and democracy are often used interchangeably, but the two are not synonymous. Democracy is indeed a set of ideas and principles about freedom, but it also consists of practices and procedures that have been molded through a long, often tortuous history.

Democracy is the institutionalization of freedom.