Which of the following is an economic factor -

Exchange rates

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Licensing regulations

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Labour courts

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Employment needs

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Solution

The correct option is B Licensing regulations
Licensing regulations is an economic factor as it includes with providing sufficient business license to the corporate units in order to survive in competition that prevails in the market. After, liberalization, many of such license where removed so that many business can flourish in the country.

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Among the following determinants of growth, which is a non-economic factor?

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