Which of the Following Accurately Describes Global Trade in the Mid-Nineteenth

question 21

Multiple Choice

Which of the following accurately describes global trade in the mid-nineteenth century?

• A) The global trade of luxury goods, such as silk and porcelain, profoundly changed the societies that produced them.
• B) People increasingly worked to produce goods they could sell in the global market instead of producing subsistence crops.
• C) Most goods were carried overland by railroad instead of by sea on sailing ships.
• D) The people in the agricultural hinterlands were largely unaffected by changing global markets.

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Definitions:

Feelings About Fairness

The emotions and perceptions regarding the fairness or equity of actions, decisions, or distributions among individuals or groups.

Ultimatum Game

A game in experimental economics where one player proposes how to divide a sum of money with another player, who can either accept or reject the proposal.

Behavioral Economics

A field of economic research that examines the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Financially

Relating to financial matters, including money management, investments, and economic conditions.