Due to the grants' encouragement of settling and the creation of new industrial prospects, the West's industries were able to expand.
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What to you understand by Industries? </h3>
An industry is a collection of businesses that are connected by their main lines of activity. There are numerous categories of industries in contemporary economies. Sectors are generally used to combine together bigger groups of industry classifications.
The processing and transformation of natural resources (raw materials) into other finished and semi-finished products is the primary function of industry in each nation's economy.
Industries have a significant role in the economic activities of modern man. Any nation's industrial growth is a major factor in determining its economic development. The main components of contemporary civilization are industries, which give us access to the things we need and job possibilities.
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Answer: c.
In a competitive market, there are many producers competing to provide consumers the products they needed and thus they cannot dictate prices.
If a surplus occurs, there is an excess of quantity supplied and since producers won't be able to sell all their products, they tend or are forced to lower their price.
The reverse happens when there is a shortage. When there is less supply in the market, price increases.
Surplus and shortage in a competitive market, therefore, will cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.
C. Marginal Cost
Marginal cost is the <em>additional </em>cost to produce each unit of a good.
Answer: D. a desire to increase profits
Explanation:
During the late 1800s, a more professional focus of running events began to take place. The main reason for such a professional focus emphasis occurred due to a desire to increase profits.
It was realized that having a more professional focus on running events could bring about more funds and also bring about more intersted spectators.
