In 1950 ____ of the World's Countries Boasted Systems of Compulsory

question 5

Multiple Choice

In 1950 ____ of the world's countries boasted systems of compulsory mass education.

• A)10 per cent
• B)20 per cent
• C)30 per cent
• D)40 per cent
• E)50 per cent

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price within a given time period.

Real Incomes

The amount of goods and services that can be purchased with money income, taking into account the effects of inflation on purchasing power.

Price Falls

This term indicates a decline in the market price of goods or services, which can result from various factors, such as increased supply, reduced demand, or external market shocks.

Substitute Goods

Products or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.