Using Map (In the Textbook) 19

question 61

Essay

Using Map (in the textbook) 19.3, discuss the incentives for Africans to participate in the slave trade. Were there internal pressures that motivated their participation?

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of operation increases with the reduction in average costs.

Fixed Costs

Fixed costs are business expenses that remain unchanged regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Capital

Resources made and used by humans to produce goods and services, including buildings, machinery, and equipment.

Barriers to Entry

Obstacles that prevent new competitors from easily entering an industry or area of business.