How Did the Asante Kingdom Use Its Access to Gold

question 37

Multiple Choice

How did the Asante kingdom use its access to gold to begin its growth and development?

• A) The Asante used their gold to buy firearms,which they used to raid neighboring communities for captives to be sold as slaves.
• B) The Asante used their gold to trade across the Saharan caravan routes for salt,which was a necessity of life in the rain forest.
• C) The Asante used gold to bribe the Europeans to keep them from capturing Asante people as slaves.
• D) The Asante used gold to finance scholarly and architectural centers like Timbuktu.

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Definitions:

MR

Stands for Marginal Revenue, which is the additional income earned from selling one more unit of a good or service.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit costs and opportunity costs.

Perfectly Competitive

A market structure where many firms sell identical products, entry and exit are easy, and no single seller can influence the market price.

Market Price

The present cost for purchasing or selling an asset or service within a specific market.