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Economic System based on: -public ownership -meet needs of all -no competition -labor theory of value KARL MARX
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
the process of making something more mechanical or automatic by introducing machines
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Supply and demand should determine prices Limit government involvement in business Increased wealth and power of Industrial Leaders
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Industrial system of production where workers are brought together to produce good using machines
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Economic System based on: -public ownership -meet needs of all -no competition -labor theory of value KARL MARX
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Prices are best determined by supply and demand.
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Industrial System of production where goods are produced by hand in a home or workshop
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
Belief that the government and business owners had a responsibility to improve the lives of the workers during the Industrial Revolution by passing laws and regulations to improve their quality of life
Factory System
Capitalism
mechanization
Communism
Utilitarianism
Communism
Domestic
central idea of laissez-faire economics
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