A Central Difference in the Development of Industrialization in Great

question 27

Multiple Choice

A central difference in the development of industrialization in Great Britain and the United States on the one hand and continental Europe on the other was the involvement of:

• A)private companies in Europe and the exclusive involvement of government in Great Britain.
• B)the Roman Catholic Church to the exclusion of government and private companies in Europe.
• C)government through subsidies,incentives,and direct development in Europe.
• D)foreign investors only in Great Britain and a mix of foreign and national investors in Europe.
• E)the peasantry who moved to the urban centers and provided the needed labor on the Continent.

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Definitions:

Demand Curve

A graphical representation showing the relation between the price of a good and the quantity demanded by consumers.

Profit Maximizing

is a strategy where a firm decides on the quantity of production and price to maximize its profit.

Elasticity Of Demand

A gauge of the extent to which demand for an item is affected by fluctuations in its price.

Monopoly Power

The ability of a single seller or firm to control the market price and output of a particular product or service, often resulting in limited choices and higher prices for consumers.