A Key Economic Consequence of the Plague Was

question 39

Multiple Choice

A key economic consequence of the plague was

• A)the rapid expansion of European civic banking to rebuild industry.
• B)a decline in manorialism and weakening of feudalism as noble landlords desperate for cash converted peasant labor service to market rents, freeing their serfs.
• C)the more frequent bankruptcy of monarchs as they emptied their treasuries trying to provide poor relief.
• D)the very slow enrichment of middling peasant laborers who began to dominate rural communities.
• E)a long-term trend to abandon cities for the more secure rural environment.

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Definitions:

Cutthroat Competition

Cutthroat competition describes an extremely competitive market situation where participants engage in aggressive price-cutting and other practices to gain market share.

Collusion

A secret or illegal cooperation or conspiracy, especially between parties to deceive or defraud others.

Barriers to Entry

Obstacles that make it difficult to enter a given market, potentially including high startup costs, strict regulations, or strong competition.

Few Firms

In markets characterized by few firms, also known as oligopolies, a small number of companies dominate the industry, leading to limited competition.