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astraxan [27]
3 years ago
5

4.Which of the following characterizes the economic system favored by Adam Smith?

History
2 answers:
Alex73 [517]3 years ago
7 0

1) Republic

2) He believed in the absolute power of kings.

3) The bill ensured superiority of Parliament over the monarchy.

4) He proposed that government be divided into separate branches.

5) Adam Smith

6) a popularly elected government

7) absolute monarchy

8) It gave Parliament essential powers independent of the monarchy.

9) English King, James II, was overthrown.

10) Supply and demand regulate business.

11) Her skillful use of personal advisers to communicate her wishes to Parliament promoted stability .

12) A female absolute ruler can work together with a parliament.

13) wealthy businessman, affluent landowners

14) They bought common lands, They evicted tenant farmers

CONNEXUS 100% For Unit 2 Lesson 3 World History B

If This Helped You, Pls Give Me 5 ✯ And Give Me A ❤ It Would Mean Alot To Me!

Alisiya [41]3 years ago
6 0
Adam Smith favored supply and demand to regulate the businesses because of how much it helped the economy.

So your answer would be  B. Supply and demand regulate business.



I hope this helps!!!!!!!!

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Capitalism is an economic system in which investments in an ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private  individuals or corporations specially as contrasted to cooperatively state-owned means of wealth. Socialism is a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.

<h2>Why do people say that capitalism works better than socialism?</h2>

Capitalism and socialism have both been put to the test. Socialism never works; capitalism occasionally does. The outcomes are self-evident.

  • China. After the cultural revolution, the communist party seized power in China. They didn't have much financial success with anything. In its place, starvation claimed the lives of millions. Capitalist policies were put into place when Moa Zedong left office, and economic development suddenly skyrocketed.
  • US versus USSR The huge ideological conflict between capitalism and socialism was eventually the cause of the cold war. The sides began on land that was largely level. There is no doubt who won. The USA is currently the world's most powerful country by a wide margin. There is no longer a Soviet Union.
  • Almost all affluent countries, including the UK, Germany, Australia, Japan, Canada, and even the Nordic countries, have capitalist systems. All have different amounts of social expenditure, but this is only sustained by the underlying capitalism.
  • Cuba. Cubans are all equal, yet they are all equally impoverished. Nearly everyone in Cuba has it better than even those who are regarded as impoverished in prosperous countries like the USA.
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In conclusion, a basic misunderstanding of human nature is the basis of socialism. When everyone actually ends up doing is trying to piggyback off of everyone else's hard work, it makes the false assumption that everyone is willing to labor selflessly for the benefit of the group. Although it is not a flawless system, capitalism at least provides a reward for effort. And when it comes down to it, hard effort is what improves our lives.

<h2>What are the pros and cons of socialism and capitalism?</h2>

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Pros ⇒ It is a method of voluntary trade. It is the best at allocating scarce resources. It has given people the highest quality of life in human history. Property rights, arbitrary assessments, and free will are all protected. It best manages self-interest. It rewards people who make the world a better place by making them rich. Static economic classes are eliminated by capitalism's dynamic character. Of course, there is more.

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