The Triangle Trade That Emerged in the Early 1500s Resulted

question 19

Multiple Choice

The Triangle Trade that emerged in the early 1500s resulted in an unprecedented level of economic,social,and military activity between Europe,Africa,and the Americas.The European effort to expand their own economic power in the Caribbean quickly proved unsustainable due to a shortage of

• A) water.
• B) sugar.
• C) ships.
• D) people.

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Definitions:

Average Cost

The total cost of production divided by the quantity produced, indicating the cost per unit of output.

Unlimited Resources

A theoretical scenario where resources are abundant and not finite, eliminating scarcity and its associated challenges.

Opportunity Cost

The cost of missing out on the next best alternative when making a decision or choosing to carry out one action instead of another.

Accountants

Professionals who perform accounting functions such as audits or financial statement analysis according to prescribed methods.