Which of the Following Statements Is True of the British

question 105

Multiple Choice

Which of the following statements is true of the British colonies in Jamaica and Barbados?

• A) The participation of the natives in politics was greatly limited.
• B) The colonies were similar to the ones set up in North America.
• C) The institutions set up in these colonies were mostly inclusive.
• D) Production was based on well-defined property rights and private ownership of resources.

---

Definitions:

Demand

The desire and ability of consumers to purchase goods or services at a given price.

Supply

The total amount of a specific good or service that is available to consumers in a market at a given time and price.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a state of market balance.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices.