The Most Important Factor That Contributed to China's Rapid Growth

question 14

Multiple Choice

The most important factor that contributed to China's rapid growth at the end of the 1970s and early 1980s was

• A) physical capital.
• B) human capital.
• C) technology.
• D) property rights.

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Definitions:

Socially Responsible

Refers to practices and policies that a business adopts to benefit society and the environment, beyond what is legally required.

Customer Loyalty

The likelihood of previous customers to continue buying products or services from a specific business due to satisfaction with the product or service, convenience, or familiarity.

Profit Margins

The difference between the cost of goods sold and the sales revenue, expressed as a percentage of sales revenue, indicating the profitability of a product or business.

Sales Volume

The total number of units sold within a specified time period, often used as a measure of business performance.