Following France's Defeat in the French and Indian War, the Treaty

question 59

Multiple Choice

Following France's defeat in the French and Indian War, the Treaty of Paris in 1763 settled the dispute by

• A) ceding all lands west of the Appalachian Mountains to Spain.
• B) forcing France to accept and pay all debts to the new territories that were gained by England.
• C) declaring a total truce and leaving all territories in the hands of those who held them prior to the war.
• D) awarding to England all of the territories between the Arctic Circle and the Gulf of Mexico.
• E) equally distributing territories between the nations of France and England.

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Definitions:

Unregulated Market

A market where economic activities are freely carried out without governmental intervention in terms of prices, production, and distribution.

Shortage

A situation where the demand for a product or service exceeds the supply available at a specific price.

Product

Any good, service, or idea that can be offered to a market to satisfy a want or need.

Excess Supply

A situation where the quantity of a good or service supplied is greater than the quantity demanded at the current price.