The Figure Below Shows the Demand (D) and Supply (S)

question 16

True/False

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-In reality international trade is determined solely by comparative advantage and the free market forces of supply and demand.

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Definitions:

Indians

Indigenous peoples of the Americas; often referred to in contexts related to the original inhabitants of the land prior to European colonization.

Independent Treasury

A system used by the United States in the 19th century whereby the government managed its own funds independently of the national banking and financial systems.

Federal Government

The national government of a federal country, which holds the authority to govern shared matters while coexisting with the governments of the individual states.

Banking System

The network of institutions that facilitate the exchange of money between savers and borrowers, including personal and commercial banking services.