What Was the Significance of Puerto Rico

question 75

Multiple Choice

What was the significance of Puerto Rico?

• A) It was where the Indians revolted and booted out the Spanish.
• B) It was the first permanent colony in what would become the United States.
• C) It later broke away from Spain and became an independent nation.
• D) Under the Spanish, it did not allow slavery.
• E) Natives were immune to disease.

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level within a specified time period.

Economic Theory

A set of principles and models that explains how economies operate and how economic agents interact.

Inelastic

A term describing a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.

Elastic

Describes a situation in which the demand or supply of a product is sensitive to changes in price, meaning a small change in price leads to a large change in the quantity demanded or supplied.