The General Mining Act of 1872 _____________

question 22

Multiple Choice

The General Mining Act of 1872 _____________

• A)allows mining companies to mine land held by private citizens without compensating them
• B)ensures that mining operations would repair and restore an area when they were done
• C)provides no governmental oversight to mining in the United States
• D)provides free equipment to promote mining in the West
• E)has been subjected to major overhauls in the last century

---

Definitions:

Equilibrium

A state of balance or stability within a system where opposing forces or influences are equal and cancel each other out.

Marginal Utility

The supplementary satisfaction or advantage received from consuming one more unit of a good or service.

Utility Maximization

An economic principle that suggests individuals seek to achieve the highest level of satisfaction possible with their available resources.

Money Income

The total amount of monetary earnings received by an individual or household, including wages, salaries, benefits, and investment income.