Use the Following to Answer Questions

question 50

Multiple Choice

Use the following to answer questions:
Select the word or phrase from the Terms section that best matches the definition or example provided in the Definitions section.
Terms
-South African movement that sought to foster pride, unity, and political awareness among the country's African majority and often resorted to violent protest against white minority rule.

• A)decolonization
• B)Indian National Congress
• C)Mahatma Gandhi
• D)satyagraha
• E)Muslim League
• F)Muhammad Ali Jinnah
• G)Abdul Ghaffar Khan
• H)African National Congress
• I)Nelson Mandela
• J)Black Consciousness
• K)Sowet
• L)military government
• M)Mozambique's civil war
• N)globalization of democracy
• O)import substitution industrialization
• P)export-led industrialization
• Q)Mustafa Kemal Atatürk
• R)Ayatollah Ruhollah Khomeini

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Definitions:

Willingness To Pay

The maximum amount an individual is prepared to offer for a good or service, reflecting the value they place on it.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply to the market.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is distributed to meet the desires of consumers.