What Was a Consequence of the Increased Supply of Items

question 55

Multiple Choice

What was a consequence of the increased supply of items such as tobacco and sugar in eighteenth-century North America?

• A) Colonists adopted a more sedentary lifestyle.
• B) Southerners bought fewer slaves as tobacco prices fell.
• C) Ordinary people purchased more luxury goods.
• D) The colonies cut back on exports to England.

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Definitions:

Distorted Priorities

A situation where resources or efforts are misallocated, focusing on less important issues at the expense of more critical ones.

Economic Concepts

Fundamental ideas that form the basis of economic theory and analysis, such as supply and demand, inflation, and gross domestic product.

Economic Laws

Theories or principles that describe behaviors and outcomes in economical activities, often derived from observed patterns and generalized across situations.

Depression

A severe and prolonged downturn in economic activity, characterized by significant declines in GDP, high unemployment, and deflation, more extreme than a recession.