Great Britain's Small Size in the Early Stages of Industrialization

question 71

Multiple Choice

Great Britain's small size in the early stages of industrialization:

• A)encouraged the development of a well-integrated domestic market.
• B)severely hampered the development of a market economy.
• C)aided in the establishment of foreign business monopolies in Great Britain.
• D)caused Great Britain to lag behind continental Europe in developing industry.
• E)allowed foreign investors to take over most English heavy industry.

Understand the arguments for and against trade protectionism in various industries (e.g., infant industry, declining industries, national defense).

Conceptualize the effects of international trade on economic efficiency and opportunity costs.

Recognize strategies and consequences of dumping and other unfair trade practices.

Understand the characteristics and functions of forward and futures contracts.

---

Definitions:

Return Requirements

The minimum expected rate of return on an investment, dictating the level of risk investors are willing to accept.

Variable Life

A form of permanent life insurance where the cash value and death benefit can vary based on the performance of investments chosen by the policyholder.

Cash Value

The amount available in cash upon the cancellation of an insurance policy before it becomes payable upon death or maturity.

Passive Core

An investment strategy focusing on long-term, low-cost investments such as index funds, forming the "core" of a portfolio around which more active investments might rotate.