What Constituted the "Third Leg" of the Triangle Trade

question 73

Multiple Choice

What constituted the "third leg" of the Triangle trade?

• A) payment for slaves in gold in Africa prior to the Middle Passage.
• B) payment for slaves in the Americas with sugar-based products to be taken back to Europe.
• C) payment for slave ships in Europe to go to Africa.
• D) exchange of slaves for passage of cargo and colonists from Europe to America.
• E) None of these.

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Definitions:

Marginal Utility

The increased contentment or advantage obtained by the consumption of an extra unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from participating in the market.

Utility

Utility refers to the total satisfaction received from consuming a good or service.

Diminishing Utility

The principle that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.