Why does Smith believe that the "benefits" of colonization outweigh the "misfortunes"?

Q: true or false Technological developments are a fundamental driver of opportunity.

A: Technological developments can possibly set out new open doors and change existing businesses.…

Q: What did Adam Smith predict would happen if economic individualism were allowed to operate in a…

A: Adam smith predicted that if individualism was allowed to operate in a country,democratic governance…

Q: true or false Economic models must mirror reality or they are of no value.

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Being that Japan is a mountanous island, what do they focus on?

A: Jap is a mountainous island which means that the geography of Jap is mountainous. There are numerous…

Q: Marx held that to understand the fundamental relationships of capitalism, one had to look at the…

A: Why one had to look at the sphere of production? As per Karl Marx version of economics, People…

Q: In order to satisfy as many wants as possible, a society must achieve productive efficiency:…

A: In economics, production is defined as the process of converting input into output. Input refers to…

Q: What is mercantilism? benefits and drawbacks of mercantilism? Africans. What would the Sp, Fr and Br…

A: As per Bartleby Guidelines, we have solved the first 3 sub-parts only. If you want us to solve the…

Q: Explain how economic depression and imperialism are linked

A: When talking about economic depression, it is the fluctuations in the economic cycle in the long…

Q: 1. What is a Nash equilibrium? And use your definition to identify and explain in full, all the Nash…

A: 1) Nash equilibrium is the decision making theorem that states that the player can achieve its…

Q: The example of "analog reasoning" described in Frijters/Foster likened migration to... a)A picnic in…

A: Let's say individuals want to model the economic phenomenon of labour migration as an example of…

Q: How did John Stuart Mill and Karl Marx respond to the claims made by Malthus' law of population?

A: The Malthus theory of population growth would be the theory of population which explains the…

Q: Globalization – Creator or Destroyer

A: Globalization in economics refers to the interconnectedness and integration of economies and markets…

Q: If one wants to know how the material well-being of the average person has changed over time in a…

A: GDP per-capita: The GDP per-capita is a measure of a country’s economic output that accounts for its…

Q: Has economic globalization helped people to bridge cultural gaps? Why or why not?

A: Globalization refers to free movement of factors, goods and services, people, technologies or…

Q: The following graph plots the market for electric guitars in Houston, where there are always over…

A: Two goods are said to be substitute when one good can be used instead to other. This means the…

Q: In The Wealth of Nations (1776), Adam Smith wrote, “The most decisive mark of the prosperity of any…

A: Adam Smith stated that economic development could be fostered under a competition-free environment.…

Q: Members of some market-oriented and command economies seem to pity or look down upon people living…

A: Answer 1. A traditional economy is one that is based on traditions, history, and long-held ideas.…

Q: According to the Ricardian Model, if two nations have the same opportunity cost for cars, then they…

A: When the world price of the good is lower than the domestic price of the good then the nation is…