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"One of the Important Requisites for Economic Development Is a Free

question 34

Essay

"One of the important requisites for economic development is a free labor force in order to make ?free transfers of labor possible.A production organization cannot be very flexible if it has to engage in the purchase or sale of slaves every time it changes its output." To what extent did the South's ?pre-1860 economic history confirm or refute the foregoing generaliza?tions?


Definitions:

Thai Baht

The official currency of Thailand, used for financial transactions within the country.

Exchange Rate

The value of one currency for the purpose of conversion to another.

Cash Inflows

The sum of funds entering a company, usually from operational, investment, and financial activities.

Exchange Rate

The worth of one currency when converted into another.

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