Which of the Following Most Accurately Describes Canadian Immigrants Prior

question 58

Multiple Choice

Which of the following most accurately describes Canadian immigrants prior to World War I?

• A)They were mainly former American slaves using the Underground Railroad.
• B)They were brought into Canada because companies wanted cheap labour.
• C)They refused to work in mining,lumbering,and railway construction.
• D)They tried to rid themselves of worldly goods,including houses and clothing.

Understand how private ownership influences economic systems.

Grasp the importance of assessing an economy's strength before business expansion.

Understand industrialization and its significance.

Differentiate between market-based and command-based economies.

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Definitions:

Marginal Revenue

The gain in revenue resulting from the sale of one extra unit of a good or service.

Marginal Cost

The price of making an additional unit of a product or service.

Perfect Competition

A market setup where numerous buyers and sellers interact, offering identical products, with no barriers to entry or exit, and complete transparency of information, resulting in suppliers having no control over prices.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market. This seller faces no competition, as he is the sole seller of goods with no close substitute.