A growth industry is defined as ____________.

an industry with 15% rate of growth per annum
an industry where demand for its product is growing
an industry with high capital investment
an industry with average growth higher than the growth of the economy

The correct answer is: D. an industry with average growth higher than the growth of the economy.

A growth industry is an industry that is experiencing a higher rate of growth than the overall economy. This can be due to a number of factors, such as new technologies, changing consumer preferences, or government regulations. Growth industries are often attractive to investors because they offer the potential for high returns.

Option A is incorrect because it specifies a specific rate of growth, which is not necessarily required for an industry to be considered a growth industry. Option B is incorrect because it focuses on demand, while growth industries can also be driven by supply factors. Option C is incorrect because it focuses on capital investment, while growth industries can also be low-capital-intensive.