Answer:
1. No taxation powers: After the Revolutionary War, the United States had contracted very large debts with allied European powers, notably France. these debts were constantly occurring due to interest and individual states refused to pay any portion of them this provoked economic retaliatory measures from allied powers and even though economically prosperity was improving, these policies prevented the American economy to develop.
2. No unified national judiciary: each state had its it's own court system but because there was no federal courts, disputes between states were frequent and unsettled.
the Constitution, rapidly corrected these two issues by levying taxes for the operations of government and funding of armed forces and it also allowed for the creation of federal judiciary which helped organized jurisdictions ans laws to settle legal disputes between the different states.
The correct answer is: " Supply and demand regulate business"
According to the central thesis of The Wealth of Nations, the key to social welfare lies in economic growth, which is enhanced through the division of labor and free competition. According to this thesis, the division of labor, in turn, deepens as the extension of the markets and therefore specialization expand. For his part, Adam Smith considers free competition as the most ideal means of economics, stating that the contradictions engendered by the laws of the market would be corrected by what he called the "invisible hand" of the system.
In The Wealth of Nations, Smith assumes, in general, that the demand is relatively fixed in the short and medium term (depending ultimately on the number of people), and that, consequently, it is only the offer that makes the price go up or down
At the close of the Potsdam Conference involving the Big Three on July 24, 1945 U.S. President Harry S. Truman told the Soviet Premier Joseph Stalin that the U.S. has successfully developed a new weapon. Truman later said Stalin was not that surprised.
