What is the best definition of elasticity in economics? a. elasticity of supply measures how the amount of a good changes when the producer hires more employees. b. elasticity of supply measures hot the amount of a good changes when the producer uses new materials. c. elasticity of demand measures how the amount of a good changes when it’s price goes up or down. d. elasticity of demand measures how the amount of a good changes when it’s distribution expands.

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The delegates of the second continental congress who were ready to declare independence were from which area? a. new england b. the southern colonies c. quebec d. the middle colonies

Match the vocabulary word with its meaning. 1. capitalism to change or improve something by correcting faults or removing abuses 2. chattel an economic system based on private ownership and competition motivated by profit 3. imperialism policy extending political, economic, or military rule over another 4. indentured an economic system where colonies supply goods to the mother country 5. mercantilism an agreement committing one person to be another's slave for a certain period of time 6. reform a type of slavery where the slave is the sole property of the master with no rights