Answer:
Explanation:
The advantages of capitalism include:
Consumer choice - Individuals choose what to consume, and this choice leads to more competition and better products and services.
Efficiency of economics - Goods and services produced based on demand create incentives to cut costs and avoid waste.
Economic growth and expansion (which is possible in the capitalist economy system) - This increases the gross national product and leads to improved living standards.
The disadvantages of capitalism include:
A chance of a monopoly of power - Firms with monopoly power (when a specific person or enterprise is the only supplier of a particular commodity) can abuse their position by charging higher prices.
Inequality - A capitalist society is based on the right to pass wealth down to future generations. If a small group of people hold all the wealth and that wealth continues to be passed down to the same groups of people, inequality and social division occur.
Recession and unemployment - An economy based on the market of consumers and producers is invariably going to experience growth and decline.
You cannot make many other materials such as necklaces or stone materials because of lack of resource and factories would close down.
Answer:
A national bank was not mentioned in the Constitution.
Explanation:
A lot of Americans were against the idea of having a National Bank because they believed that the idea was unconstitutional and it would give too much power to the Federal Government. They were also afraid that this would create a monopoly that could undermine state-run banks
It was widely believed by many people, as brought up by Thomas Jefferson that the Constitution did not give the government power to establish and run a bank.
Answer:
The Embargo Act of 1807 was an attempt by President Thomas Jefferson and the U.S. Congress to prohibit American ships from trading in foreign ports. It was intended to punish Britain and France for interfering with American trade while the two major European powers were at war with each other
Explanation:
United States of America’s first president also a important general in the revolutionary war
