Command economy advantages include low levels of inequality and unemployment and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency
While there are several advantages to a traditional economy, these economies are not without their disadvantages. Because these economies rely on hunting, fishing, gathering, and the land in the form of farming, when the weather changes, the economy becomes jeopardized
A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims. According to neoclassical theory, mixed economies are less efficient than pure free markets, but proponents of government interventions argue that the base conditions such as equal information and rational market participants cannot be achieved in practical application.
Answer:
Labor is an indispensable source of economic production, and all other things being equal, more labor contributes to more economic production. During the second industrial revolution factories took full advantage of human labor but set aside workers rights. Following the technological revolutions of the early industrial age, large factories engaged in mass production, supplemented workshops and small foundries. The manufacturing sector expanded from 2.4 to 10 million workers and manufacturing employment grew more than twice as fast as the workforce as a whole from the years 1880 to 1920.
This era of industrial growth transformed American society creating a new class of wealthy entrepreneurs and a comfortable middle class. The increase in industry resulted in a growth among the blue-collar working class. This labor force was made up of millions of newly arrived immigrants and vast numbers of families migrating from rural areas to cities with the hope of job security and prosperity.
Hernando de Soto and his army departed from Apalachee. By the end of the day they had reached the southern border of Georgia. While they were there they found the Flint river. They built a crude boat and ferried everyone to the western side of the river.
