liberalization
Liberalization trade policy is the opposite to protectionism. The aim of this policy is to boost the economical trade with other countries. International trade under this policy affects prices as they decrease as a result of the imports made from countries were the production of those products is cheaper.
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Answer:
The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas. The find was unprecedented in its size (worldwide) and ushered in an age of rapid regional development and industrialization that has few parallels in U.S. history. Texas quickly became one of the leading oil-producing states in the U.S., along with Oklahoma and California; soon the nation overtook the Russian Empire as the top producer of petroleum. By 1940 Texas had come to dominate U.S. production. Some historians even define the beginning of the world's Oil Age as the beginning of this era in Texas.[1]
Explanation:
The property owned by individuals or companies not by the government or the people as a whole is called private property
Louisiana Purchase (French: Vente de la Louisiane 'Sale of Louisiana') was the acquisition of the Louisiana territory of New France (828,000 sq mi (2,140,000 km2; 530,000,000 acres)) by the United States from France in 1803. The U.S. paid fifty million francs ($11,250,000) and a cancellation of debts worth eighteen million francs ($3,750,000) for a total of sixty-eight million francs ($15 million, equivalent to about $600 billion given the GDP of 2017[1]). The Louisiana territory included land from fifteen present U.S. states and two Canadian provinces. The territory contained land that forms Arkansas, Missouri, Iowa, Oklahoma, Kansas, and Nebraska; the portion of Minnesota west of the Mississippi River; a large portion of North Dakota; a large portion of South Dakota; the northeastern section of New Mexico; the northern portion of Texas; the area of Montana, Wyoming, and Colorado east of the Continental Divide; Louisiana west of the Mississippi River (plus New Orleans); and small portions of land within the present Canadian provinces of Alberta and Saskatchewan. Its non-native population was around 60,000 inhabitants, of whom half were African slaves.[2]
The Kingdom of France controlled the Louisiana territory from 1699 until it was ceded to Spain in 1762. In 1800, Napoleon, then the First Consul of the French Republic, hoping to re-establish an empire in North America, regained ownership of Louisiana. However, France's failure to put down the revolt in Saint-Domingue, coupled with the prospect of renewed warfare with the United Kingdom, prompted Napoleon to sell Louisiana to the United States to fund his military. The Americans originally sought to purchase only the port city of New Orleans and its adjacent coastal lands, but quickly accepted the bargain. The Louisiana Purchase occurred during the term of the third President of the United States, Thomas Jefferson. Before the purchase was finalized, the decision faced Federalist Party opposition; they argued that it was unconstitutional to acquire any territory. Jefferson agreed that the U.S. Constitution did not contain explicit provisions for acquiring territory, but he asserted that his constitutional power to negotiate treaties was sufficient.
