In the market economy, the decisions in the farm will be guided by the prices.
<h3>What is a market economy?</h3>
It should be noted that a market economy is when the forces of demand and supply determine the market.
In this case, in the market economy, the decisions in the farm will be guided by the price. The individuals also have a vital role to play.
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The growth of the African population was aided by the Western medicine introduced by Europeans. Africans were introduced to formal education by Europeans. They also improved the African infrastructure with the addition of road systems, railroads, water, electricity, and communication systems.
In both cases the colonizing European powers introduced new infrastructure in order to benefit themselves economically. This infrastructure was intended to increase trade by exploiting the native country for goods and easily transporting them to port cities.
From the late 1800s through the early 1900s, Western Europe pursued a policy of imperialism that became known as New Imperialism. By the 1870, it became necessary for European industrialized nations to expand their markets globally in order to sell products that they could not sell domestically on the continent.
Answer: During the first British Empire, the British began colonizing other countries due to the need for trade and raw materials. It established thirteen colonies in North America, as well as colonies in the Caribbean and India.
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