Answer: Market Economy
Explanation:
The Market Economy is one where business owners have significant power over Economic decisions. They get to decide what to produce, how to produce, and for whom to produce without government intervention.
Government only intervenes to ensure that no fair trade practices are being broken.
This economic system gives more opportunities for wealth to be accrued and allows people to express their independence and personal choice by going into businesses and jobs that they actually want.
The Industrial Revolution transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system. New machines, new power sources, and new ways of organizing work made existing industries more productive and efficient.
<u>Key features of the Industrial Revolution</u>
- Population shift – moving from rural agriculture to work in factories in cities.
- Mass production of goods, increased efficiency, reduced average costs and enabled more to be produced.
- The rise of steam power, e.g. steam trains, railways and steam-powered machines.
Answer:
Eleven
Explanation:
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Explanation:
Wealth does not equal income, but people often mistakenly think they're the same thing. Wealth is the net worth of a household, whereas income is what's reported on an income tax return. Being rich isn't about how much money you make or spend — it's about how much money you keep.
Answer: In England, democracy arose from numerous factors. The key turning point was the English Civil War, symbolising the end to absolute monarchy and, for the first time, the creation of a parliament which had a significant degree of power.
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Explanation:
