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In the 1840s the US economy grew more than I had in the previous 40 years. as the US became more industrialized and farmer shifted to specialization the market revolution occur?
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Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
When an economy relies on specialization?
trade enables individuals to obtain the goods in which they do not have a specialization
What does specialization do for the economy?
it makes it more efficient
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
What is the difference between the economy of Japan today and the economy of the Philippines today?
The Philippines is not nearly as industrialized. The economy is unstable.
Was the economy before and after the American Revolution agricultural?
G A: No, it was agricultural before the American revolution, and industrialized after.
How did the mechanization of farming change the US economy during the industrialized revolution?
yes
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
When an economy relies on specialization?
trade enables individuals to obtain the goods in which they do not have a specialization
How did the Industral Revolution give an advantage to Industrialized European nations over non-industrialized nations?
The Industrial Revolution gave European nations many advantages including some that were not related to non-industrialized actions. For instance, the Industrial revolution gave these nations more political power and better economic strength.
What does specialization do for the economy?
it makes it more efficient
What does industrialized mean?
Industrialized can be defined as an economy that is based on manufacturing as opposed to an agricultural economy based on farmlands & farm products. The leading economic countries are industialized.
What was the economy like for the confederacy?
The economy was more agricultural and less industrialized like the North.
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
What is the difference between the economy of Japan today and the economy of the Philippines today?
The Philippines is not nearly as industrialized. The economy is unstable.
What limits specialization in the global economy?
Trade barriers.
How does specialization affect the economy?
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
