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Alex17521 [72]
3 years ago
8

The discovery of America and that of the passage to the East Indies by the Cape of Good Hope, are the two (2) greatest events re

corded in the history of [human] kind" – Adam Smith, in The Wealth of Nations,1776. Think about why he and many other notables supports this statement, especially concerning the discovery of America. What was so important about this New World across the Atlantic Ocean from Europe?How did it change globalization in terms of trade, culture, societies, innovations, old and new world exchanges, and in other ways?
History
1 answer:
Luda [366]3 years ago
4 0

Answer:

Throughout the three centuries following the discovery of America and the passage to the East Indies by the Cape of Good Hope, there was a remarkable development of intercontinental trade, which led to intercontinental specialization and a global division of labor, the foundations of globalization.

Explanation:

While western Europe gained vital raw materials to speed its industrialization, found expanded markets for its industrial products, and developed high living standards, the peripherical countries were forced into primary production and low-income levels, supplying raw materials and labor in return for European products.  

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You have recently bought four tickets for $15 each to a professional baseball game. You would have been willing to pay $25 for a
34kurt

Answer:

<h2>$80</h2>

Explanation:

Step one:

What is consumer surplus area?

"Consumer Surplus reflects the difference between what a consumer is willing and able to pay for a product, and what the consumer actually ends up paying.

"

<em>The area of surplus is calculated using the formula for the area of the bounded triangle.</em>

<em>Area of surplus =1/2 b*h</em>

<em>where b= the quantity </em>

<em>            h= consumer surplus</em>

Step two:

given data

<em>the quantity </em>of tickets = 4

b=Q-O------------ (from the chart attached)

cost per tieckt= $15

Total cost of 4 tickets= 15*4= $60

the actual price is $60

Since you are willing to pay $25 per ticket

the total amount you are willing to  pay is = 25*4= $100

Consumer surplus = y-p------------ (from the chart attached)

Consumer surplus = $100 – $60

Consumer surplus = $40

<em>Area of surplus = </em>1/2 x (4) x40 = $80

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Explanation:

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Answer:

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