WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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result in technological innovation and advancement.
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allow wealth to be distributed more equitably to everyone.
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support competition and entrepreneurship.
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allow the industry to more quickly respond to supply and demand in the marketplace.
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Detailed explanation-1: -Socialism is a populist economic and political system based on collective, common, or public ownership of the means of production. Those means of production include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs.
Detailed explanation-2: -Answer: Socialist ideals include production for use, rather than for profit; an equitable distribution of wealth and material resources among all people; no more competitive buying and selling in the market; and free access to goods and services.
Detailed explanation-3: -Socialism is an economic system where the means of production, such as money and other forms of capital, are owned to some degree by the public (via the state). Under a socialist system, everyone works for wealth that is in turn distributed to everyone.
Detailed explanation-4: -In an absolute socialist system, the means of production, distribution and exchange are controlled by the government. Decisions pertaining output and prices of goods and services are made by the government. Socialism aims to achieve an equitable society in which goods and services are equally distributed.