​A Significant Characteristic of the Commercialism in the Seventeenth Century

question 83

Multiple Choice

​A significant characteristic of the commercialism in the seventeenth century was

• A)​English imports came almost exclusively from the East Indies.
• B)​the shift to a global economy.
• C)​the prosperity of a nation depended on the amount of colonies it held.
• D)​the development of a ​laissez-faire ​philosophy.
• E)​imported products were beginning to filter down to merchants and artisans.

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Definitions:

Tragedy Of The Commons

An economic theory describing how individual users acting independently according to their own self-interest behave contrary to the common good by depleting or spoiling shared resources.

User-Pay Approach

A policy or system where users pay directly for the services or facilities they use, encouraging responsible usage and helping to cover the costs of service provision.

Sustainable Yields

The rate at which natural resources can be harvested without compromising their availability for future generations.

Non-Renewable Resources

Natural resources that cannot be replenished or that take millions of years to form, such as fossil fuels and minerals.