___________Refers to the Decision by Governments to Forcibly Create an Empire

question 14

Multiple Choice

___________refers to the decision by governments to forcibly create an empire so they can expand their markets and gain access to cheap raw materials.

• A) Annexation
• B) Colonialism
• C) Enslavement
• D) Imperialism
• E) Territorial aggression

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Definitions:

Government Price Floor

A minimum price set by the government for certain goods, ensuring producers receive a minimum return regardless of market forces.

Market For Butter

The supply and demand dynamics concerning the sale and purchase of butter.

Surplus

A situation in which the quantity of a good or service supplied exceeds the quantity demanded at the current price.

Binding Price Floor

A minimum price set by the government that is above the equilibrium price, causing a surplus of the good.