-What Would Happen in a Free Market System When Production

question 105

Multiple Choice

-What would happen in a free market system when production of a good generates negative externalities?

• A) There is a shortage of the good.
• B) There is a surplus of the good.
• C) The equilibrium quantity of the good is less than the efficient amount.
• D) The equilibrium quantity of the good is more than the efficient amount.

Identify the strategies and legislation implemented by Britain to increase revenue from the colonies.

Recognize the colonial reactions and resistance to British taxation and legislation.

Describe the influence of the European Enlightenment on American colonial thought and resistance.

Explain the role of communication networks like the Committees of Correspondence in fostering colonial unity.