Which of the Following Is the Reason for East Asia's

question 90

Multiple Choice

Which of the following is the reason for East Asia's economic success?

• A) The optimum usage of natural resources.
• B) The coupling of small markets into one viable market.
• C) The wealth of the general population.
• D) Its rich cultural heritage.
• E) The emphasis placed on education and healthcare.

---

Definitions:

Price of X

The cost at which a specific item or commodity, denoted as "X," is sold in the market.

Marginal Rate of Substitution

The exchange rate between goods that allows a consumer to trade off one product for another without altering their overall happiness.

Convex Preferences

A characteristic of consumer preference whereby a consumer prefers combinations or mixtures of goods over extreme amounts of single goods, displaying a preference for diversification.

Indifference Curve

A graph showing a combination of two goods that give a consumer equal satisfaction and utility, demonstrating the consumer's preference.