THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Subsistance Agriculture
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Free Enterprise
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1st Amendment Rights
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Mercantilism
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Detailed explanation-1: -(I 1 freedom of choice; (2) private property rights; (3) profit motive of owners; and (4) owner control.
Detailed explanation-2: -The U.S. has a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces the free market when it comes to capital use, but it also allows for government intervention for the public good.
Detailed explanation-3: -Characteristics of a capitalistic free enterprise economy include economic freedom, voluntary exchange, private property rights, the profit motive, and competition. Economic freedom allows you to choose your occupation, employer, and job location.
Detailed explanation-4: -The U.S. economy is a free enterprise system. That means that individuals-and not the government-own most of our country’s resources. Free enterprise also means that supply and demand determine how our resources are used.