Which of the Following Was a Major Determinant of the Early

question 13

Multiple Choice

Which of the following was a major determinant of the early industrial regions of Europe?

• A) coal
• B) a large labor force
• C) access to banking and finance
• D) mild climate
• E) All of the choices are correct.

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Definitions:

Disposable Income

The total funds available for spending and saving by households after subtracting income taxes.

Savings

Money set aside from personal income for future use, often placed in secure accounts or investments for growth or as a safeguard.

Disposable Income

Funds households are left with for saving or expenditure after income taxes are taken out.

APC (Average Propensity to Consume)

The fraction of income that is spent on consumption as opposed to savings.