An Early Example of Globalization: in the British Caribbean Colonies

question 330

Multiple Choice

An early example of globalization: In the British Caribbean colonies, slaves from ___________ wore garments made of cloth woven in _____________ from cotton grown in __________________.

• A) Madagascar; India; the United States
• B) the American South; the American North; India
• C) Africa; England; India
• D) Africa; Ireland,; the United States

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Definitions:

Monopolist

An individual or entity that holds exclusive control over the supply of a particular goods or service, allowing them to manipulate market conditions.

Marginal Cost

The increase in total production cost that arises from producing one additional unit of a good or service.

Average Cost

The total cost of production divided by the number of goods produced, also known as unit cost.

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach equilibrium.