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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Lower quality with higher prices
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Better quality with higher prices
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Lower quality with lower prices
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Better quality with lower prices
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Detailed explanation-1: -In a market economy, almost everything is owned by individuals and private businesses-not by the government.
Detailed explanation-2: -The biggest advantage of a free market is the flexibility both the buyer and seller have in how they interact. With little government regulation, buyers can spend their money however they choose. For this reason, they can make purchasing decisions based on what they need, want, and have the resources to purchase.
Detailed explanation-3: -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.