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Aleksandr-060686 [28]
2 years ago
13

Why was the development of the Bessemer process important to Great

History
1 answer:
Stells [14]2 years ago
4 0

The Bessemer Process was an innovative way to produce steel.

  • Increased the quality of steel
  • Allowed for mass production
  • More construction of skyscrapers
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Market economies allow all economic decisions to be made by individuals. The unrestrained interactions between individuals and companies in the marketplace determine what happens to all the good and resources.Individuals choose how to invest their personal resources and individuals decide what to consume. Within a pure market economy,  the government is entirely absent from economic affairs.

A mixed economic system combines elements of the market and command economy. Many economic decisions are made in the market by individuals. But the government also plays a role in the allocation and distribution of resources.

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There is no point to look at it on a micro level because almost no country is small enough to be considered on that level.









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