Some Factors Currently Exist That Inhibit the Growth Rate of the Chinese

question 55

Multiple Choice

Some factors currently exist that inhibit the growth rate of the Chinese economy.The main reason given is

• A) the introduction of free-market reforms.
• B) the introduction of the relatively new resource of entrepreneurship.
• C) the lack of laws that predictably enforce property rights.
• D) the total lack of governmental intervention in the market place.

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Definitions:

Nonrivalry

A characteristic of a good or service where one person's use does not diminish the availability or value for others, common in public goods.

Nonrival Consumption

A characteristic of certain goods where one person's use does not diminish the availability or quality of the good for others.

Rival Consumption

A situation where one person's consumption of a good reduces the ability of another person to consume the same good.

Nonexcludable

A characteristic of a good or service indicating that it is not possible to prevent non-paying customers from accessing it.