The market for indentured servants could be best described as:
a. A monopoly.
b. An oligopoly.
c. A competitive market.
c. A competitive market. There were many captains in the market, and they were located at the docks in a small number of English seaports. With many demanders and low costs for the servants of seeking additional offers, this was a competitive industry.
Economics
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The magnitude of the slope of the budget line is determined by
A) the marginal rate of substitution. B) the level of income. C) the consumer's preferences for the goods. D) relative prices.
Economics
According to the Heckscher-Ohlin (HO) model the source of comparative advantage is a country's
A) technology. B) advertising. C) factor endowments. D) Both A and C.
Economics