RVC lead to the development of classical civilizations because they had water to start the agrarian society. This kind of society is where cultivating the land is the primary source of wealth. Agriculture requires a lot of water and fertile soil. That's why people settled around rivers.
A trough is a low turning point or a local minimum of a business cycle. The time evolution of many variables of economics exhibit a wave like behaviour with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks.
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sugar and cotton were sold to people in britain and other countries and goods were sold at auctions
Serfs and peasants were stuck in their position? Is that what you’re looking for?
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Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
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