Answer:
Explanation:
Export because they make everything to export them to the USA
Beyond abolishing slavery in the United States, the Civil war was a pivotal event in American history for a number of reasons. One major importance of the war was that the Union retained its territorial integrity and the South was not able to secede from the Union or defeat the Northern forces. Also as a result of the war the Northern States were able to assert political dominance and a degree or retribution through the reconstruction efforts.
The north had many supporters whether they were in the southern territories or the northern. Many people sacrificed equipment, food, water, etc. in order to help the north ensure victory.
Answer: Let's start with a definitive description of each.
Capitalism: is a free market economy, where goods and services are produced by private firms. The goods produced are determined by market forces of Demand and Supply.
Socialism: is an economy where each member of the public owns an equal fraction of the means by which goods and services are produced. The goods produced here are determined by the government.
Explanation: I am going to list some of the Advantages and Disadvantages of each so that you can pick the advantages of the system you are supporting and the disadvantages of the other system in your essay.
Capitalism
Advantages:
- It ensures that only the goods needed are produced as the market is controlled by demand and supply.
- It encourages innovation and personal development as better skills and products lead to higher income.
Disadvantages
- It can neglect to produce necessary goods in the economy when focus is only on goods that give the highest return.
- It leads to inequality between the people in an economy.
Socialism
Advantages:
- It leads to equality, people enjoy equal standards of living
- It corrects market problems such as monopolies, price fixing and cartels.
Disadvantages:
- There is an absence of innovation due to lack of competition, so there is no drive to improve on the current goods, services or methods of production.
- It leads to bureaucratic bottleneck as decisions usually have to be taken by several government officials in a bid to ensure that rules are followed.
