In the 19^th Century, the British Gained Access to China

question 5

Multiple Choice

In the 19^th century, the British gained access to China through the introduction of:

• A) railroads
• B) horses
• C) democracy
• D) opium

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Definitions:

Central Planning

An economic system where decisions about production, investment, and distribution are made by the government or a central authority.

Consumer Sovereignty

The concept that consumers' preferences determine the production of goods and services, guiding the allocation of resources in a market.

Monarchy

A form of government where a single person, the monarch, rules until death or abdication, with the position often inherited.

Profits

The financial gain realized when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.