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How did improvements in transportation affect the economy of the north?
It spurred the economy, because immigrants were willing to work for little wages. It also spurred the economy because now there were more consumers to buy the goods.
How much profit may individuals keep in capitalism?
There is no limit on profit, except taxes.
What was the main reason that there was more slaves in the south than in the north?
The Northern economy was industrialized. The southern economy was agrarian and there was very little mechanized machinery. Even when some mechanization was available it was still cheaper to use slave labor, thus increasing profit margins. Of course the differences in attitude and social acceptability and social morays, between the North and South played a roll in how acceptable slavery was during that time period.
How did northerners profit from cotton?
ye
What caused the British government to take more interest in the American colonies?
There were several factors that all worked together to draw Britain's attention to the American colonies. The first factor was France and Spain's withdraw from the American colonies, leaving Britain as the only control. The thirteen colonies between South Carolina and Main had also grown in trade and economy. The colonies had also developed urban centers and large populations, this meant that the colonies had a strong economy and society independent from the British government which drew Britain's attention.
What does a capitalist economy system encourage?
private business ownership
What economic system is based on private ownership and competition motivated by profit?
market economy
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
How did Gorbachev hope to a structure the soviet economy through perestroika?
some private ownership and opportunity for individual profit would be allowed
How did Gorbachev hope to restructure the Soviet economy through perestroika?
As a part of perestroika, he started introducing market economy principles to the Soviet Union. gorbachev mainly reduced the amount of centralized (government) control over workers and started giving workers freedom to make their own business decisions. He hoped that this would increase the willingness of the workers to work harder which would bring up the economy and restructure it into a market economy. Some private ownership and opportunity for individual profit would be allowed.
What is the ownership of apple inc?
Apples ownership is private because it is a profit making business
How does a free enterprise system differ from a mixed economy?
A free enterprise is the freedom of private businesses to operate competitively for profit with minimal government regulation. A mixed economy is a system that allows for the simultaneous operation of publicly and privately owned enterprises
Is US a capitalist economy or mixed economy?
Capitalist: wages system,production for profit, class ownership.
What economy is the US?
Capitalism: wages system, production for profit, ownership by a tiny minority
Capitalism is an economic system based on?
Ownership of the means of production by a small minority; wages system; production for sale and profit; exploitation
How are goods produced in a mixed economy?
In general the mixed economy is characterized by the private ownership of the means of production, the dominance of markets for economic coordination, with profit-seeking enterprise and the accumulation of capital remaining the fundamental driving force behind economic activity.
What are the three pillars of capitalism and why are they important?
1. Private property rights. 2. Free market economy, private control of the means of production 3. The right to a profit incentive
