China and India both have rapidly developing economies. Which of the following characteristics is shared by India and China?

A) Both have embraced free-market economies.
B) Property rights are well established in both countries.
C) Both are democratic countries.
D) Both have high literacy rates.

Developing Economies

Economies characterized by low income, limited industrialization, and moderate to high population growth. These economies are in the process of experiencing significant structural changes and economic development.

Literacy Rates

The percentage of a population aged 15 and above that can read and write with understanding a short simple statement about their everyday life.

Free-Market Economies

Economic systems in which the prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.