If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.
The year 1879 may be the beginning of psychology as a science due to the fact that Wilhelm Wundt developed and opened the first psychology laboratory.
<h3>What is psychology?</h3>
This is a branch of study that is involved with the study of the human mind, cognitive processes and behavior.
Wilhelm Wundt opened this laboratory in the Univeresity of Leipzig. He is regarded as the father of psychology.
Read more on Wilhelm Wundt here:
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Answer:
In these sentence, Paine is arguing the fact that America didn't flourish due to it's acquaintance with Britain but it flourished on itw own accord. Paine goes on arguing that America would have flourished more if there would not have been interference from European powers.
Explanation:
'Common Sense' is a philosophical pamphlet written by Thomas Paine. In this pamphlet, Paine writes about independence of American colonies from Great Britain and establishment of Democratic government.
In the Third Section of the pamphlet, Paine describes about the current situation of America. To this Paine argues and invalidate the fact that America flourished due to its acquaintance with Great Britain. Paine argues that this is a fallacious statement and America would have flourished much more if European powers would not have interfered in their colonies' business. He goes on to argue that America will keep on flourishing because she has enriched herself with the necessaries of life but Europe is customed of eating, which means acquiring of taxes.
Individual citizens have the freedom to take risks and improve their lives.
Explanation:
<u>Most essential reason for the success of capitalism as an economic system is the freedom an individual has to take risks</u> to further their own station in life. The risk taker may or may not become successful but this freedom allows for great social mobility.
<u>Improvement of lives through fiscal development is allowed for in capitalism the best</u> as it ascertains rights in the market to people who can use them correctly to gain advantages for themselves.
