WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The government has no say in a business’s ability to sell goods or set prices.
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Having complete control and ownership of the production and trade of something.
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The rapid growth of cities and its population.
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A group of people joined together to fight for the rights of workers.
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Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.
Detailed explanation-2: -Capitalist development requires that government play two roles, one administrative, in providing and maintaining the institutions that underpin capitalism, and the other entrepreneurial, in mobilizing power to modernize these institutions as needed.
Detailed explanation-3: -Capitalism is a type of economic system in which trade and industry are driven by private owners and the individual rather than the government.
Detailed explanation-4: -Yes, a free market can exist without capitalism. It can exist under socialism, as long as there is an absence of coerced (forced) transactions or conditions on transactions, or in other sorts of communal/mutualistic societies, such as those that Native American tribes had.