It relates to the state government having the power to regulate private industries that affect the common good.
The period between 1870 and 1914 saw a Europe that was considerably more stable than that of previous decades. To a large extent this was the product of the formation of new states in Germany and Italy, and political reformations in older, established states, such as Britain and Austria. This internal stability, along with the technological advances of the industrial revolution, meant that European states were increasingly able and willing to pursue political power abroad.
Answer:
The other items you could have purchased with your $50
Explanation:
Opportunity cost represent the loss of potential benefit that occurs when you choose an alternative decision. This concept is usually used by businesses during their budget allocation process in order to find out the best way how to spend their capital.
On the example above, You receive $50 as a birthday gift. That $50 can be used for anything. You can choose to use it to purchase games, clothing, foods, etc. But you decided to spent it on wallpaper. By purchasing the ability you lose the opportunity to buy any of those other things. This loss is what considered as opportunity cost.
California
California joined the Union as a free state.
