From 1978 to 2003,________ Grew on Average 8 Percent Per

question 56

Multiple Choice

From 1978 to 2003,________ grew on average 8 percent per year,a rate faster than any other country in the world.

• A)India
• B)China
• C)the United States
• D)Russia

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Definitions:

Substitute Good

A product or service that can be used in place of another to satisfy consumer needs or desires.

Demand Curve

A graph illustrating the quantity of a good that consumers are willing and able to purchase at various prices, typically downward sloping.

Demand Curve

A graph showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at each price point.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at those prices.