Frustrated with the high fees and poor service from traditional financial institutions, a tech-savvy individual launched a new digital banking platform. This platform quickly gained traction, capturing a significant share of the market and leading to the closure of several established banks. The resulting bank failures caused widespread job losses. In response, the government decided to shut down the new digital banking platform, claiming it was responsible for the job losses and a looming economic downturn. However, this decision to close the platform should be reconsidered because __________.

Which of the following most logically completes the argument?

Answer Choices

Correct answer marked below

(A) the high costs and inefficiencies of traditional banks prompted the creation of the new platform

(B) the closure of banks indicates that consumers prefer to manage their finances independently

(C) widespread job loss diminishes consumer spending power, which negatively impacts businesses and leads to further job losses

Correct

(D) the practices of traditional banks weakened the economy and made it susceptible to disruptive innovations

(E) innovators must consider the broader social and economic implications of their innovations

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Explanation

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Official Explanation

Official

To understand why the closure of the new digital banking platform should be reconsidered, we need to analyze the implications of mass unemployment. Option (C) states that widespread job loss diminishes consumer spending power, which negatively impacts businesses and leads to further job losses. This is a logical conclusion because if people…

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Comments

AnshulMar 9, 2025

Great question!

GauravMar 6, 2025

Good question

BaabaFeb 7, 2025

thanks

DevanshApr 14, 2024

pls explain more?

What this question tests

What it tests

Whether you can complete the last sentence of an argument in a way that is logically consistent with it.

Common trap

Choosing an option that sounds plausible but contradicts the argument or introduces new information.