Given America's Strong Anticolonial and Democratic History, How Were a Majority

question 36

Essay

Given America's strong anticolonial and democratic history, how were a majority of Americans able to justify acquiring colonial possessions? How strong were imperialists' arguments, and why did they arouse such strong opposition from other Americans?

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Definitions:

Sales

Sales refer to the transactions where goods or services are exchanged for money, reflecting the revenue generating activities of a business.

Implicit Costs

The opportunity costs that are not directly paid for in cash but represent the loss of alternative benefits when resources are used for a particular purpose.

Explicit Costs

Direct, out-of-pocket payments for goods and services that are used in the production of other goods or services.

Accounting Profit

The financial profit of a business calculated by subtracting total expenses from total revenue, as shown in the company's income statement.