The transaction that occurs between diverse industries across countries creates "a globalized economy".
Since the second half of the 20th century, trade between countries has suffered exponential growth. This is due to 2 reasons:
- Some countries have more developed industries in certain fields. This is what effectively generates trade, as a country will import the goods it does not produce or lacks the conditions to do so.
- Production factors such as raw materials or workforce are cheaper in certain countries. This has led companies to move their production to these latitudes.
Nobles and knights were obliged to protect those who lived on the manor and provide personal and military service to the king.
Simple interest is interest only calculated by multiplying the principal amount by the interest rate and the number of periods in a loan. However compound interest is interest on interest. It is calculated by multiplying the principal amount by the annual interest rate raised to the number of compound periods.
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Because the Articles of Confederation where extremely weak forms of government and pretty much had to be scrapped before the constitution was written.
Explanation:
Athens and Sparta, two of the most prominent Greek city-states, had a few similarities. Other than being apart of Greece and the language they spoke, they both worshipped the same gods, which are the twelve Olympian gods and goddesses, which included Zeus, Poseidon, and Aphrodite. Additionally, slaves played a major role in both city-states. These Greek city-states were clear rivals, but they did team up to defeat the Persians during the Greco-Persian War. Following their victory, both city states alliances with other city-states to create Athen’s Delians League and Sparta’s Peloponnesian League; these leagues were obvious rivals which led to the peloponnesian War between these city-states and the final outcome was Sparta defeating the Athenians and taking them over. Athens and Greece, even though they have some similarities, are exceedingly different, especially when looking at their government, economy, and cultural value. When looking at their governments, the Athenian government is purely a democracy, where the spartan government is a mix of a monarchy and an oligarchy. It is says in this excerpt from “The Spartan Constitution,” written by Aristotle, “... they praise the Lacedaemonian because it is made up of oligarchy, monarchy, and democracy, the king forming the monarchy, and the council of elders the oligarchy while the democratic element is represented by the Ephors; for the Ephors are selected from the people.” Aristotle is directly telling us here that the
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