By the Mid-Eighteenth Century, a Distinct Colonial Merchant Class Came

question 16

Multiple Choice

By the mid-eighteenth century, a distinct colonial merchant class came into existence because of

• A)the abolishment of the British Navigation Acts.
• B)the development of a substantial colonial manufacturing industry.
• C)illegal colonial trade in markets outside of the British Empire.
• D)ready access to manufactured goods.
• E)All the answers are correct.

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Definitions:

Specialization

The process of concentrating on and becoming expert in a particular subject or skill.

Productivity

The measure of output per unit of input, indicating the efficiency with which goods and services are produced.

Economic Structure

The classification of an economy based on various sectors, such as agriculture, manufacturing, and services, indicating the allocation of resources among these sectors.

Ownership Of Resources

The legal right or control individuals or entities have over natural, physical, or intellectual properties and resources.