This topic contains a solution. Click here to go to the answer

Author Question: Define capitalism and describe the four distinct features of ideal capitalism. What will be an ... (Read 104 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
Define capitalism and describe the four distinct features of ideal capitalism.
 
  What will be an ideal response?

Question 2

By definition, fads last longer than fashions.
 
  a. True
 b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

Capitalism is an economic system characterized by private ownership of
the means of production, from which personal profits can be derived
through market competition and without government intervention. Ideal
capitalism has four distinctive features:
1 . Private ownership of the means of productioncapitalis teconomies are based
on the right of individuals to own income-producing property, such as land,
water, mines, and factories. In the early stages of industrial capitalism (1850-
1890), virtually all the capital for investment in the U.S. was individually
owned. As workers grew tired of toiling for the benefit of capitalists instead of
for themselves, some of them banded together to form a labor uniona group
of employees who join together to bargain with an employer or a group of
employers over wages, benefits, and working conditions. Under early monopoly
capitalism (1890-1940), most ownership rapidly shifted from individuals to huge
corporationslargesc aleorganizationstha thave legal powers, such as the
ability to enter into contracts and buy and sell property, separate from their
individual owners. Major industries, including oil, sugar, and grain, came under
the control of a few corporations owned by shareholders. In advanced
monopoly capitalism (1940-present), ownership and control of major industrial
and business sectors have become increasingly concentrated. Economic
concentrationisthe degree to which a relatively small number of
corporations control a disproportionately large share of a nation's economic
resources. Today, many corporations are global in scope; transnational
corporations are large corporations that are headquartered in one country but
sell and produce goods and services in many countries.
2 . Pursuit of personal profitatenetof capitalism is the belief that people are
free to maximize their individual gain through personal profit. In early monopoly
capitalism, some stockholders derived massive profits from companies that held
near monopolies on specific goods and services (such as the American
Tobacco Company). In advanced (late) monopoly capitalism, profits have
become even more concentrated (such as Nike or Dell computer). 3.
Competitionintheory, competition acts as a balance to excessive profits.
When producers vie with one another for customers, they must be able to offer
innovative goods and services at competitive prices. In early monopoly
capitalism, competition was diminished by increasing concentration within a
particular industry (such as Standard Oil Company). An oligopoly exists when
several companies overwhelmingly control an entire industry (such as the
music industry). A shared monopoly exists when four or fewer companies
supply 50 percent or more of a particular market (such the Big Three U.S.
automobile manufacturers).

Answer to Question 2

False




piesebel

  • Member
  • Posts: 565
Reply 2 on: Jul 2, 2018
:D TYSM


elyse44

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

For a complete list of videos, visit our video library