Amusement and the Need to Escape Crowded Cities Created All

question 5

Multiple Choice

Amusement and the need to escape crowded cities created all of the following for the middle class except

• A)problems in traveling from country to country as visas and passports were hard to come by.
• B)water cure spas that gave special health benefits.
• C)tours organized by Thomas Cook.
• D)gambling casinos.
• E)resort towns.

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Definitions:

Competitive Industry

A sector of the marketplace characterized by numerous firms vying for market share, leading to benefits for consumers through innovation and lower prices.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices over a specific time period.

Indifference Principle

If an asset is mobile, then in long-run equilibrium, the asset will be indifferent about where it is used; that is, it will make the same profit no matter where it goes.

Garbage Collector

An individual or entity responsible for collecting and disposing of waste material from public or designated areas.