China's Failure to Become the First Industrialized Nation Despite Her

question 22

Multiple Choice

China's failure to become the first industrialized nation despite her technological equality with western Europe in 1500 indicates:

• A) that technological advance depends on far more than a society's overall capability
• For such advance
• B) that China probably possessed characteristics that constituted serious obstacles to further technological development
• C) both of these
• D) neither of these

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Definitions:

Imposed

Refers to actions or conditions that are applied or enforced by authority or necessity without the recipient's active consent.

Total Surplus

The sum of consumer and producer surplus, representing the total benefit to society from the production and consumption of goods or services.

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.

Creative Entrepreneur

An individual who innovates and creates new products, services, or business models, often in the arts, media, or technology sectors.