As a Result of Economic Opportunities in the New West

question 67

Multiple Choice

As a result of economic opportunities in the New West, __________ boomtowns often appeared suddenly.

• A)female-dominated
• B)male-dominated
• C)Mexican-controlled
• D)Chinese-run
• E)strictly white

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Definitions:

Marginal Analysis

An examination of the benefits and costs of one more unit of a product or activity to help make efficient allocation decisions.

Full Employment

This term refers to the condition where all available labor resources are being used in the most economically efficient way, with no involuntary unemployment.

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce with fixed resources and technology.

Human Economic Wants

Desires that require resources to satisfy, emphasizing the economic aspect of needs and desires.