Business competition is the guiding factor for reaping benefits in any business; this was the belief of Adam Smith and it was propounded by him some two hundred years ago and still acts as the base in order to comprehend how market economies function
Adam smith, in his book ‘wealth of nations’ states that it’s not out of benevolence (generosity) of the butcher or a baker that we eat bread or meat, it’s out of the self-interest of the traders that they produce goods in order to earn profits and eventually that product is valid to us due to necessity. So, self-interest of a trader is one of the factors that promote trade. He also states that competition in markets regulates the trade.
If the price of the good is too high, then the goods of the competitor which are cost effective are preferred. Consumers being treated rudely than the competitor, then the goods of the competitor are preferred. So, it’s the competition that regulates the trade.
Self-interest and the Competition in markets are termed to be ‘invisible hand’ which determines the function of the market economy.
Answer:
The Compromise of 1850 was a package of five separate bills passed by the United States Congress in September 1850 that defused a political confrontation between slave and free states on the status of territories acquired in the Mexican–American War.
Explanation:
it provided light, and it was better than candles
it also pushed more modern technology to start to come out
The collapse of the Indus Valley Civilizations can be attributed to the following factors. One, the trade networks declined and disappeared. This meant less work for traders and manufacturers. Two, changes in geography that caused the rivers to either dry up or change direction Three, the people abandoned the major cities. Four, without trade and access to water, people succumbed to disease and starvation.
Answer:
Nativism
Explanation:
Civil war was one of the historic event in American history that happened from 1861 to 1865. It was fought between northern and southern states of America.
Sectionalism
, slavery and state's rights were three main or major reasons of civil war but nativism was not.
Nativism is defined as the policy that favors native people but in Civil War nativism was not the reason as people were not fighting for nativism but from other reasons such as sectionalism
, slavery and state's rights.
Civil war is defined as the war between intrastate so it can not be caused by nativism.
Hence, the correct answer is "Nativism".