The Bessemer Process was an innovative way to produce steel.
- Increased the quality of steel
- Allowed for mass production
- More construction of skyscrapers
Lincoln hoped to use a well-known figure of speech to help rouse the people to recognition of the magnitude of the ongoing debates over the legality of slavery. His use of this paraphrased metaphor is perhaps clearer when you look at some more of his speech:
"A house divided against itself cannot stand." I believe the government cannot endure permanently half slave and half free. I do not expect the Union to be dissolved — I do not expect the house to fall — but I do expect it will cease to be divided. It will become all one thing or all the other. Either the opponents of slavery will arrest the further spread of it, and place it where the public mind shall rest in the belief that it is in the course of ultimate extinction; or its advocates will push it forward till it shall become alike lawful in all the States, old as well as new — North as well as South.
As you can see, in this metaphor, the "house" refers to the Union — to the United States of America — and that house was divided between the opponents and advocates of slavery. Lincoln felt that the ideals of freedom for all and the institution of slavery could not coexist — morally, socially, or legally — under one nation. Slavery must ultimately be universally accepted or universally denied.
Answer:
Absolute advantage: The ability to produce more cheaply.
Comparative advantage: The existence of lower opportunity costs than competitors.
Specialization: The performance of a particular task within an economic system.
Protectionism: The existence of barriers to free-flowing trade.
Explanation:
The four terms that are defined above have to do with trade and the economic theories behind the different trade policies that countries employ. Protectionism is employed when countries want to avoid trade with outside countries and to lower competition with outside countries. Therefore, a country may impose tariffs that make importing goods very expensive. A country will have an absolute advantage in a product if they can make it much cheaper than another country. For example, timber products in Canada will cost less because they have an abundance of forests compared to other countries. A country may have an absolute advantage in one industry but that still may not be its comparative advantage. The country will have to weigh the trading opportunity costs are. Say that one country has no farmland but it has lots of oil. The other country has farmland and oil, but is willing to forgo trading oil in order to trade food for oil with the other country because the opportunity costs for forgoing oil are lower. Now the second country has a comparative advantage in food and the first country has a comparative advantage in oil. David Ricardo believed that comparative advantage would lead to specialization as in countries would specialize in the products they have a comparative advantage in.
Help with what? What needs to be done
