According to Industry Canada, the Average Annual Growth Rate in the Canadian

question 3

Multiple Choice

According to Industry Canada, the average annual growth rate in the Canadian ICT sector since 2007 has been around

• A) 6.2 percent.
• B) the GDP growth rate.
• C) 1.6 percent.
• D) 4.2 percent.
• E) 8.1 percent.

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Definitions:

Housing Property

Real estate that includes residential homes such as single-family houses, apartments, and condos, used for living purposes.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, usually identified by a fall in GDP in two successive quarters.

Demand Elasticity

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Price Conscious

Being aware of and giving importance to the cost of goods and services when making purchasing decisions.