A law stating that as the price of a good increases, the quantity demanded of the good decreases, and that as the price of a good decreases, the quantity demanded of the good increases.
Answer:
The meaning of guns and butter is an economic policy choice of whether a nation is increasingly keen on burning through cash on war or taking care of its people.
trade-off: If you put more cash toward weapons then you are surrendering another advantage which is a trade-off.
opportunity costs: As an economy delivers more weapons (military spending) it must diminish its creation of bread and butter (food), and the other way around.
Answer:
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Answer:
Europe was not the only one that positively affected by Marco Polo's travels. Unsurprisingly, China, too, was affected in a positive manner. Marco Polo had introduced gunpowder to the Chinese. With trade between Europe and China, the Europeans were introduced to citrus fruits, spices, and other newly seen goods.
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