Foundations of Economics
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Identify the opportunity costs (i.e., separation from family, indentured service) associated with expeditions to the New World.
Describe how specialization (e.g., division of labor) improved standards of living in the three colonial regions and the Pre-Civil War North and South.
Identify how voluntary exchange helps both buyers and sellers as in colonial trade in North America.
Interpret how trade promoted economic growth throughout U.S. history.