Parliament Abolished the British Slave Trade in

question 48

Multiple Choice

Parliament abolished the British slave trade in

• A)1772.
• B)1789.
• C)1807.
• D)1808.
• E)1810.

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Definitions:

Absolute Advantage

The ability of an individual, company, or country to produce more of a good or service with a given amount of resources than competitors.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to trade benefits.

Terms Of Trade

The ratio of a country's export prices to its import prices, affecting the volume of goods a country can import for a given level of exports.

Exchange Rate

The value of one currency expressed in terms of another, determining how much of one currency can be exchanged for another.