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Opium is grown and sold legally in many countries as it is a key ingredient in a number of legally used pharmaceuticals such as morphine and its derivatives. In some countries it can only be grown under special license, and sold within sepcific legal conditions.
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∙ 12y ago
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Why the British were eager to end the ban of opium in china?
The opium trade was extremely profitable for the British, and thus they wished to end the ban of opium in order to resume the opium trade and make profits.
Why isn't opium poppies grown in the US legally?
Because the poppy seeds can be crush and made into the drug opium.
Are profits also Factors of production?
NO
Why do firms engage in the activity of production?
to acquire profits
Where does the United States get their opium from?
Bear in mind that there are many pain killers that are not derived from opium. However, America does legally import some opium to use in the pharmaceutical industry; it comes from the nation of Turkey.
The Portuguese in Brazil hoped to earn great profits from the?
Production of sugar.
What happens when OPEC increases in the production of oil?
What hapens is that it increases its profits:) Apex.
Why were assembly lines introduced into factories?
To speed up production and increase profits.
The money that remains once production and trading costs have been paid?
profits
How did the black market opium trade affect the Chinese society?
China was forced to legalize opium and began massive domestic production
What caused the increase in opium addiction in the mid-19th century China?
In opium addiction in the mid-19th century chinese people became depressed because of economic conditions and because of this reason they got more and more addicted to Opium. Thus, it increase the production of it.
Why can firms not always reduce prices until they increase sales and profits?
if marginal production costs exceed marginal revenues, the firm will suffer losses, not profits.
