In 1773, the British Government Granted a Monopoly on the Export

question 62

Multiple Choice

In 1773, the British government granted a monopoly on the export of tea from Britain to the politically powerful East India Company, which sought to bypass the colonial merchants and sell the tea directly to the colonies.The merchants called on their radical adversaries for support, and the most dramatic result was

• A)the Boston Tea Party.
• B)an attack on Fort Sill.
• C)the Philadelphia Midnight Murders.
• D)the ceremonial burning of the Union Jack flag in the Philadelphia town square.
• E)increased pirate attacks on East India Company ships.

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Definitions:

Capital Balance

The amount of money that a business or individual has invested in an asset or enterprise, reflecting the equity or ownership interest.

Partnership

A legitimately structured partnership where two or more persons share both the administrative roles and the profits.

Business For Profit

An organization engaged in commercial, industrial, or professional activities with the aim of generating income exceeding expenses.

Mutual Agency

A principle in partnership where each partner is authorized to act on behalf of the partnership and bind it with their actions.