In 1960 the Per Capita GDP of Hong Kong Was

question 68

Multiple Choice

In 1960 the per capita GDP of Hong Kong was substantially less than that of Argentina and Venezuela. By 2005, the per capita income of Hong Kong was more than three times the figures for Venezuela and Argentina. This dramatic change occurred because

• A) Venezuela and Argentina lacked the natural resources of Hong Kong.
• B) the United States provided aid to Hong Kong but not to Argentina and Venezuela.
• C) Hong Kong was able to achieve and sustain a high rate of economic growth while the growth rates of Argentina and Venezuela were exceedingly low.
• D) Hong Kong was a developed country in 1960, but Argentina and Venezuela were not.

---

Definitions:

B2B

Business-to-Business, transactions or commercial activities conducted between companies, as opposed to between companies and consumers (B2C).

B2C

Business-to-Consumer, referring to the direct commercial transactions and relationships between businesses and end-users or consumers.

E-commerce

The buying and selling of goods and services over the internet.

Reverse Auctions

A type of auction where the roles of buyer and seller are reversed, with the buyer seeking to purchase goods or services and suppliers submitting decreasingly lower bids.