Most Historians Agree That Which of the Following Were the Real

question 67

Multiple Choice

Most historians agree that which of the following were the real gainers in the early Industrial Revolution?

• A)Factory workers who found full employment.
• B)The bourgeoisie who made increased profits.
• C)Beggars who began to benefit from social legislation.
• D)Aristocrats who could charge more taxes.
• E)Dynastic rulers who benefitted from greater political and social stability.

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Definitions:

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, thereby controlling the entire market supply.

Dominant Strategy

A strategy that yields the best outcome for a player, regardless of the strategies chosen by other players in a game.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Cartel

An agreement among competing firms to control prices or production in a market, often to maximize profits by minimizing competition.