The Three Groups That Worked in Different Ways to Bring

question 12

Multiple Choice

The three groups that worked in different ways to bring an end to slavery during the 1820s and 1830s included free African Americans, militant white reformers, and __________.

• A) Quakers
• B) Mormons
• C) German Lutherans
• D) sabbatarians

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Definitions:

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service, which typically decreases with each additional unit consumed.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the benefit received by consumers from participating in the market.

Utility

The satisfaction you derive from a good or service that you purchase. How much utility you derive is measured by how much you would be willing to pay.

Demand Schedule

A table or graph showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.