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WARRIOR [948]
3 years ago
11

Foreign trade with China before the 1850 was limited and highly regulated by the chinese government true or false

History
2 answers:
Vikki [24]3 years ago
4 0

Answer:

True

Explanation:

Before the Opium War, China was highly restrictive in their trading practices. They maybe had one or two ports open for foreign trade before the Opium War but since they lost to Britain, they were forced to open more. Britain wanted to trade with China since they had luxury goods like silk, porcelain, and spices.

guapka [62]3 years ago
4 0
True because the Chinese found out that it was expensive to transport items like silk
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Answer:

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Explanation:

A captive market can be defined as a type of market in which the consumers or potential customers are only able to buy (purchase) what is made available to them due to the limited number of competitive suppliers (wholesalers or suppliers) in the market.

This ultimately implies that, in a captive market, the choice of the consumers is very limited and as such they can only buy goods or services that are made available by the supplier. Therefore, a captive market is characterized by oligopoly or monopoly and as a result of this, the price of goods and services are generally higher with minimal choice for the consumers.

Hence, the economic relationship the American Colonies had with England is known as a captive market.

In the 16th century, the American Colonies was typically a captive market for Great Britain as a raw materials such as lumber, rice, fish, or tobacco in exchange for sugar and slaves.

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3 years ago
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