Gunpowder, the compass,how to make paper and silk. How to make porcelien, and smelting iron and steel.
Terms in economics matching their definitions:
A. Rational choice - Logical decision-making based on thoughtful analysis that compares the benefits and costs of an action.
B. Utility - Measurement of personal satisfaction of wants and needs gained from the use or consumption of goods and services.
C. Marginal analysis - A decision-making tool that weighs additional costs and benefits of going for one more unit of something.
D. Risk aversion - The amount of reluctance a person has to taking chances.
Compared to other groups, members of the generation x generational cohort are more likely to marry and buy homes later, are more cynical, and are shopping savvy.
Alexander Hamilton was appointed as the first ever secretary of Treasury by President Washington. He changed and largely developed the economy by proposing a National Bank among other things. He encouraged nationalism and production within America. Debts were to be paid off whether they were domestically or internationally from the war and war bonds. Hamilton got acts passed for paying off foreign debt, redeeming domestic debts, assuming the states debts (since many states before the Constitution did not pay the federal government) and increasing tariffs. He also had a tax on distilled drinks (like whiskey) processed in Congress. (Excise At of 1791) I hope that helps.
The steamboat helped us travel at faster speeds across the ocean and deliver good faster.
