JACKSONIAN DEMOCRACY 1825 1850
AGE OF THE COMMON MAN
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What was the Western economy based on?
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manufacturing
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agriculture
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it was emerging so it is difficult to say
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None of the above
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Explanation:
Detailed explanation-1: -Western economics came into being with the rise of the capitalist market economy and gradually fashioned its theoretical system with the development of the capitalist market economy. Therefore, it is the concomitant of the capitalist market economy.
Detailed explanation-2: -However, the economy still faces various problems and challenges, such as corruption, lack of infrastructure, poverty in rural areas and poor tax collection rates. Despite rapid economic growth, unemployment is still an issue in both rural and urban areas.
Detailed explanation-3: -Globalization helped to reduce high inflation rates in Western economies, giving consumers more “bang for the buck”.
There is 1 question to complete.