<u>Colonial:</u> Colonialism is a type of policy where control by one power or nation over another country as well as dependent area. Generally, the aim is related to economic dominant of colonized country
<u>Socio-cultural imperialism:</u> Socio-cultural imperialism related to culture. They imposed their culture to non- dominance country through economically or politically.
<u>Economic imperialism: </u>A situation where dominating country has lots of economic power over non-dominance country or area.
<u>Similarities: </u>These all are affected non-dominance country. Colonialism and imperialism both means domination in political and economic over other country or area.
<u>Difference: </u>The major difference is colonialism means complete control over the other country but imperialism means formally or informally control over other country
which means automation of production, so when you will have mass production at low cost it will definitely result in a decrease of product cost.
This shall consequently lead to an increase of the quantities of product Z produced because, the extra capital that comes from saving on the production costs shall be used to produce more goods.
Since production shall have not cost any extra capital, the price shall remain constant.
