The author means by the phrase that People were able to choose who would lead their governments.
Explanation:
In the 20th century there were a lot of new nations that were formed out of old imperialistic colonies and most of them adopted, or ended up adopting a democratic system of governance where the people have the right to choose who would govern over them and the positions are rotating.
This is something that could be called to have given greater ability for the people to govern their own lives and the author has teemed the century thus as the century where the [power went to the people.
The Marshall Plan, also known as the European Recovery Program, was a U.S. program providing aid to Western Europe following the devastation of World War II. It was enacted in 1948 and provided more than $15 billion to help finance rebuilding efforts on the continent. The brainchild of U.S. Secretary of State George C.
This economic system is called<em> socialism.</em>
Socialism is an economic system where everyone in the society equally owns the factors of production. The ownership as such is in the hands of the<em> government</em> that controls all means of production and distribution of goods.
The factors of production are : land, labor, capital and entrepreneurship.
In a socialistic economy, the land is owned by the state and private property is limited and difficult to obtain. Labor is heavily regulated and most people are employed in state-owned companies. Workers do not have many rights and they have to obey the government which also decides what is being produced and in which capacity ( planned economy ).
Socialism does not reward people for being entrepreneurial and competitive as competition is no existing and everybody reaps the same benefits of their work.
One parent picks up the child from daycare while the other parent goes to the grocery store and begins to make dinner. This is an example of which principle is at work?
The correct answer is There are gains from trade.
<h3>Why are there gains from trade?</h3>
The price of one commodity relative to the other commodity that the two countries agree to trade. Good trade conditions allow a country to import goods at a lower opportunity cost than the cost of producing goods domestically, thus benefiting the country from trade.
Trade is central to ending world poverty. Countries that are open to international trade tend to grow faster, innovate, be more productive, and provide people with higher incomes and more opportunities. Open trade also benefits low-income households by providing consumers with more affordable goods and services.
Learn more about principles at work here
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