Figure 2-10 -Refer to Figure 2-10,Panel (A).The Movement from Point W to Point

question 222

Multiple Choice

Figure 2-10

-Refer to Figure 2-10,Panel (a) .The movement from point W to point Y could be caused by

• A)economic growth.
• B)unemployment.
• C)an improvement in efficiency.
• D)an advance in production technology.

---

Definitions:

Colonization

The process by which a central system of power dominates the surrounding land and its components, often leading to the exploitation and oppression of indigenous peoples.

Joint-Stock Companies

These are businesses owned by shareholders who invest money in the company in exchange for a share of the profits and losses.

Overseas Trading

The act of buying and selling goods and services across international borders, allowing countries to expand markets and gain access to foreign products.

English Privateers

Privately owned ships sanctioned by the English government during the 16th to 18th centuries to conduct raids on enemy shipping and settlements.