Identify and State the Historical Significance of the Following

question 21

Essay

Identify and state the historical significance of the following:
-"White Man's Burden"

---

Definitions:

Optimal Amount

The most favorable level of a certain variable, considering conditions that maximize efficiency or outcomes.

External Benefits

Advantages or positive effects that a transaction or activity provides to people not directly involved in it.

Market Price

The current price at which an asset or service can be bought or sold in a specific market.

Market Output

The total amount of goods and services produced and offered for sale by all firms in a particular market.