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America was founded with the goal of freedom from too much government interference in the lives of citizens. Capitalism is a continuation of that goal, in that capitalism acknowledges the right of individuals when it comes to business and earning money with as little government interference as possible.
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What best describes the economic difference between the north and south just prior to the civil war?
Transportation systems were more developed in the North than in the South.
How the north and south developed industrially and agriculturally?
The North developed industrially through the establishment of factories, railroads, and a focus on manufacturing, which led to urbanization and a diverse economy. In contrast, the South remained predominantly agricultural, relying on plantation systems and slave labor to produce cash crops like cotton and tobacco. This divergence created distinct economic systems, with the North emphasizing industrial growth and the South maintaining an agrarian economy. Ultimately, these differences contributed to regional tensions leading up to the Civil War.
Around 1000 AD which of these systems was the characteristic form of economic and social organization in northwestern Europe?
Feudal
What happened as more plantations developed in the south?
As more plantations developed in the South, the demand for enslaved labor increased significantly, leading to the expansion of the transatlantic slave trade. This growth entrenched a plantation-based economy, heavily reliant on cash crops like cotton and tobacco, which fueled regional wealth but also deepened social and economic inequalities. Additionally, the expansion of plantations contributed to conflicts over slavery, which ultimately played a significant role in the tensions leading up to the Civil War. The societal structure became increasingly divided, with a small, wealthy planter class exerting considerable influence over political and social systems.
Is it true that the south and north actually had a very few difference about states rights slavery amd economic prior to the civil war?
While the South and North shared some economic interests and a commitment to states' rights, their fundamental differences regarding slavery and its implications for economic systems were significant. The South's economy was heavily reliant on enslaved labor for its agricultural outputs, particularly cotton, while the North was increasingly industrialized and favored free labor. These contrasting economic structures fueled divergent views on states' rights, with the South advocating for greater autonomy to maintain slavery, while the North sought to limit its expansion. Ultimately, these differences contributed to the tensions that led to the Civil War.
Why is capitalism called an efficient economic system?
Cause of its comparison to the other economic systems.
What are two major econmic systems?
Capitalism, socialism, and communism are major economic systems.
What are three main economic systems of the world?
Communism, capitalism, and socialism.capitalism
What two economic systems have African leaders advocate?
Capitalism and Socialism
What are two general types of economic systems that exist today?
Capitalism and capitalism: wages system, production for use, minority ownership of the means of production.
What two economic systems clashed during the cold war?
communism and capitalism
Three types of economic systems?
There are many types of economic systems, but three of the most common are listed here.capitalist economic systemsocialist economic systemmixed economic system
What is the definition of industrial capitalism and how has it shaped modern economic systems?
Industrial capitalism is an economic system where private individuals or corporations own and operate businesses for profit, using industrial production methods. It has shaped modern economic systems by promoting competition, innovation, and efficiency, leading to economic growth and technological advancements.
Why are capitalism communism and socialism often misunderstood?
They represent ideas about both political and economic systems.
Three main economic systems of the world today?
Just different versions of capitalism, with varying degrees of state interference.
In which type of economic system does the government make no economic decisions?
There are several such systems, but the most popular is the laissez-faire system.
What type of economic systems does papua new guinea?
Papua New Guinea has a capitalism based economy.
