Answer:
Destroyed considerable wealth, caused people to have doubts about the economies health, causes consumers and businesses to cut back on their spending
Explanation:
The Navigation Acts (1651, 1660) were acts of Parliament intended to promote the self-sufficiency of the British Empire by restricting colonial trade to England and decreasing dependence on foreign imported goods.
The main way in which mercantilism increased the likelihood of conflicts between European powers was that it led to dispute over who could trade where, and disputes over the trade agreements themselves, since every country wanted the "best deal".
Answer:
What do pollution, education, and your neighbor's dog have in common?
No, that's not a trick question. All three are actually examples of economic transactions that include externalities.
When markets are functioning well, all the costs and benefits of a transaction for a good or service are absorbed by the buyer and seller. For example, when you buy a doughnut at the store, it's reasonable to assume all the costs and benefits of the transaction are contained between the seller and you, the buyer. However, sometimes, costs or benefits may spill over to a third party not directly involved in the transaction. These spillover costs and benefits are called externalities. A negative externality occurs when a cost spills over. A positive externality occurs when a benefit spills over. So, externalities occur when some of the costs or benefits of a transaction fall on someone other than the producer or the consumer.
Explanation:
