The government stays out of affairs and lets the market mange itself. In this vien, Adam Smith’s “invisible hand” is the idea that there is an invisible force or hand that drives and manages the economy. People who subscribe to this form of economic thought usually favor small government intervention...they think the market will take care of itself and doesn’t need government subsidies, regulation, etc.
Answer:
As the 5th century BCE approached, Carthage became the center of commerce and trade in the West Mediterranean region. It had conquered most of the old Phoenician colonial cities including the Hadrumetum, Utica, Kerkouane, Numidian, and Mauretanian kingdoms. It even extended its control over Malta and Balearic Islands in the Mediterranean.
Explanation:
<span>On May 24, 1844 Samuel F. B. Morse transmitted the first message on a United States experimental telegraph line (Washington to Baltimore) using the “Morse code” that became standard in the United States and Canada.</span>
Capitalism: is an economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit.
(Basically Capitalism referred to people who believed that the government should not interfere with businesses)
Socialism: the factors of production are owned by the public and operate for the welfare of all.
The main difference between the two was that in capitalism, business owners wanted to run everything themselves. They didn't want help from the government at all. Socialism was when the people wanted "some government" involved within the businesses. In summary, the main difference is the amount of government that was allowed to take over in a business.
Greece was the first civilization to have a democratic government.
