Discuss the Progress of Industrialization in Germany

question 52

Essay

Discuss the progress of industrialization in Germany.What effects did the Napoleonic invasions have on the German economy? What roles were played by the Prussian government and the German middle classes?

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Definitions:

External Cost

An external cost, or negative externality, refers to a cost that a transaction or activity imposes on parties who are not involved in the transaction, such as pollution affecting non-participants.

Positive Externality

A benefit that affects someone who did not choose to incur that benefit, often leading to an under-provision of a good or service.

Vaccination

A medical intervention that introduces a substance to stimulate the body's immune response against disease.

Producer Surplus

The discrepancy between what sellers are prepared to take for a product or service and the actual payment they get in the marketplace.