John D. Rockefeller went into business when he was 20, and he picked up his first oil well as a sideline. He soon saw that that was the right horse to ride. Even before automobiles and airplanes laid their heavy claim on oil, it'd begun replacing coal in the power industries.
Andrew Carnegie makes the better hero. He, after all, was part and parcel of the emerging technologies that made our country. And his giving sprang from some deep-seated core of principle. Yet the Rockefeller clan assumed the mantle of public service. They've become political leaders and professional givers -- one died doing anthropological research in New Guinea.
Explanation:
East Asia is an area usually considered to include China, Japan, North Korea and South Korea. Let's start with Japan. The economy of Japan is a free-market, capitalist economy, similar to most Western countries. It's the third-largest economy in the world, with particularly strong car and electronics manufacturing industries. Like many developed economies, most of its gross domestic product (GDP) comes from the service sector (73%), with most of the rest being a combination of industry (26%) and agriculture (1%). Japan has little in the way of mining or other primary industry.
<u>The Economy of China</u>
The economy of China is known as a socialist market economy, which involves a dominant state-owned sector, operating in an open-market economy. Despite criticisms of socialist economies in the West, China currently has the world's largest or second largest economy, depending on what measure you use. It's also the fastest-growing economy in the world.
Unlike many Western economies, less than half their GDP is based in the service sector. Services account for 48% of GDP, followed by industry at 43% and agriculture at 9% as of 2014. Much of the 43% for industry is manufacturing - China is the biggest manufacturing economy in the world. China is also part of the WTO, APEC and the G-20.
<u>The Economy of North Korea</u>
The economy of North Korea is a command economy, or an economy where production, investment, prices and incomes are all determined by a central government. Another way of wording this is to say that the economy is centrally planned and doesn't rely on the market to spread money and goods around. With less support from other communist countries, it has been difficult for North Korea to maintain a successful economy, and it's therefore one of the poorest countries in the world. Though it's hard to make estimates because so little information about the economy is known, and the currency of North Korea is not exchangeable.
Answer:
C. Japanese feudalism lasted much longer than the European system
Explanation:
The Japanese feudal system lasted until the 19th century. It ended with the fall of the shogunate regime that had been going on since the early 17th century. The new historical era is the Meiji Era, in which Japan quickly modernized and industrialized, adopting Western models. In Europe, feudalism existed roughly until the 15th century.
