Question

1. What does Liberalism achieve in a nation?

2. Define the term ‘Economic Liberalism’

3. Explain TWO features of Economic Liberalism

4. Outline the aim of the New Deal and provide ONE example

Answer 1

Step-by-step explanation:

(1) It generally supports individual rights, democracy, secularism, freedom of speech, freedom of the press, freedom of religion and a market economy.

(2) Economic liberalism is a political and economic ideology based on strong support for a private property and an individualist market economy in the means of production.

(3) a. Adhere to a political and economic philosophy which advocates a restrained fiscal policy and balancing budgets through measures such as reduced government spending, low taxes and minimized government debt.

b. It contrasts with protectionism because of its support for free trade and open markets.