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Explain the Importance of Agriculture, Manufacturing, and Trade to the Chinese

question 25

Essay

Explain the importance of agriculture, manufacturing, and trade to the Chinese economy.  What were some of the high-demand production goods associated with China?

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Definitions:

Marginal Revenue

The additional revenue that is gained from selling one more unit of a good or service.

Marginal Revenue

The additional income earned from the sale of one more unit of a product or service.

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.

Monopolist

An entity with exclusive control over the supply of a particular good or service, giving it the power to control prices and exclude competition.

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