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Governments intervene in markets to address inefficiency. In an optimally efficient market, resources are perfectly allocated to those that need them in the amounts they need. ... Inefficiency can take many different forms. The government tries to combat these inequities through regulation, taxation, and subsidies.
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The Peace Treaty of Paris 1763 ended in french Indian war
The Peace Treaty of Paris 1783 ended in war for independence
The primary way that the economy in the south differed from the economy of the north was that the South's economy was almost entirely agricultural and relied heavily on slavery, whereas the economy of the North was almost entirely mercantilist and had very little slavery.
