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Answer:
I'm pretty sure the answer is Greek.
Marginal benefit is more than marginal cost that is why some people more than others enjoy buying a lot of shoes.
Explanation:
When marginal benefit is more than marginal cost the resources were used more efficiently, when there is increase in the quantity. Marginal cost is the cost incurred by producing one extra unit of the commodity. Marginal benefit is referred to as the extra benefit received by consuming one extra unit of the benefit.
in case of shoes the consumer will buy more shoes because he or she is getting extra benefit by consuming one extra unit but when the marginal cost becomes more than the marginal benefit he or she will not like the benefit because the consumer has to pay more for using the benefit.
Answer:
Europeans generally used a one-crop economy in their colonies, for they are trying to generate wealth, instead of looking after the economies of the colonies. Most of the time, the crop is a "cash crop" or a crop that is worth a lot when needed, but usually cannot be eaten or used as food. They can include Tobacco, Cotton, etc.
However, the usage of only producing one product would lead to a large dependancy on it, and the economy of the certain country would depend on the demand as well as the price of the product. The higher the demand, the better the price, which leads to a better GDP. Of course, this may change on the whim, which makes an extremely unstable economy.
In today's world, only one one-resource economy works, and that is oil. Oil is used for a lot of things, including creating gasoline, diesel, etc, and is used in many modern appliances. However, with the world soon seeing the disastrous affects of the usage of fossil fuels, they are slowly transitioning to renewable resources, which may soon put the "oil kings" out of business, and propelling them back into a third-world status.
In the end, the Europeans used one crop economies in their colonies to generate quick cash, and to keep the economies of the colonies small, which may lead to them having trouble with uprisings.
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