Match the Term with the Definition

question 12

Multiple Choice

Match the term with the definition.
-Political party formed in 1892 by the Farmers' Alliance to advance the goals of the Populist movement. Populists sought economic democracy, promoting land, electoral, banking, and monetary reform. Republican victory in the presidential election of 1896 effectively destroyed the party.

• A)Boxer uprising
• B)Coxey's army
• C)Cripple Creek miners' strike of 1894
• D)Farmers' Alliance
• E)Homestead lockout
• F)Monroe Doctrine
• G)National American Woman Suffrage Association (NAWSA)
• H)Open Door policy
• I)People's Party (Populist Party)
• J)Pullman boycott
• K)Spanish-American War
• L)yellow journalism

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Definitions:

External Costs

External costs are expenses that are not borne by the individuals or organizations responsible but rather by society as a whole, often involving negative environmental impacts.

Efficient Level

The point at which a system operates at maximum capacity without waste, producing optimal output with the lowest input.

Profit-Maximizing

A strategy or process used by firms to determine the output level and pricing that yields the highest possible profit.

Negative Externality

An adverse effect on a third party not directly involved in an economic transaction, often leading to market failure if not properly addressed.