How Would European Life in the Fourteenth Century Have Been

question 22

Essay

How would European life in the fourteenth century have been different if the Black Plague had not come to Europe? Which individuals and groups might have been better off if it hadn't occurred,and which groups might have been worse off? Why?

---

Definitions:

Law of Comparative Advantage

The principle that a country should specialize in producing and exporting goods in which it has the lowest opportunity cost and import goods in which it has a comparative disadvantage.

Specialization

The process of focusing on a limited range of goods or services to gain efficiency or expertise.

Trading Partners

Countries, organizations, or individuals that engage in the exchange of goods, services, or information.

Joint Output

Products or services that are produced together in the course of a single production process, often resulting in a correlation between their quantities or prices.