The So-Called "Spice Islands" Are Located in Modern

question 70

Multiple Choice

The so-called "Spice Islands" are located in modern

• A) Japan.
• B) Indonesia.
• C) Australia.
• D) Jamaica.
• E) Madagascar.

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Definitions:

Land

A factor of production that refers to the natural resources used to produce goods and services.

Economist

A professional who studies, develops, and applies theories and principles of economics to understand how economies function and to inform policy.

Fixed Supply

A condition where the quantity of a good or resource available does not change, regardless of price.

Economic Rent

Payment to a factor of production in excess of what is needed to keep that factor in its current use.