首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
What was the American economic system based on until 1930?
What was the American economic system based on until 1930?
admin
2012-01-20
70
问题
What was the American economic system based on until 1930?
Until 1930 the American economic system was based on a self-regulating, free-market economy, also known as laissez-faire capitalism. Basic capitalism has the following four characteristics. First, land and capital are privately owned. In this case capital refers to the buildings, machines, and other equipment used for the production of goods. Most large factories in America today are owned by corporations; that is, their ownership is shared by hundreds of people who own a small fraction of the whole business. In many cases people who work in the factories own some small part of them. However, some factories and many farms are still owned by individuals.
The second characteristic is that production is determined by market demands rather than by the government or a planning body. Manufacturers can decide what and how much they will produce. They make their decision on the basis of what people want to buy. Manufacturers must do constant market research to determine what people want so that they can determine what they should produce. They must also determine how much competition they will have when they manufacture a product.
The third characteristic of capitalism is that self-interest is important to both the producer and the consumer. The consumer can choose to spend money on products that will bring the most satisfaction. The consumer’s self-interest is satisfied if they buy products that work well. Producers can make more money by selling more products; they sell more products if they please their consumers. This principle is known as consumer sovereignty. In other words consumers have all the power.
The fourth characteristic is that, traditionally, the government’s role in a free market economy is very small. Competition makes the economy self-regulating, so government intervention is not necessary. In other words, the government does not need to set production standards or quotas. These will be determined by the consumers and their response to the products.
The American economy maintained these four characteristics until the Great Depression of the 1930s when capitalism was seriously challenged. President Franklin Roosevelt restructured the financial system to remove the worst elements of capitalism. This meant that government began to play a larger role in controlling the economy. The American system since the 1930s has been referred to as "mixed" capitalism since it combines government supervision with other elements of capitalism such as private ownership and competition.
For nearly twenty-five years after World War Ⅱ, the changes put into place during the Roosevelt administration allowed the economy to maintain constant growth with low inflation and a rising standard of living. In the mid-1960s the economy was again challenged by inflation, unemployment, critical shortages, and rising energy costs. Although the crisis of the 1960s and 1970s was brought under control, stock market crashes in the 1980s brought new challenges as did rising unemployment in the early 1990s.
Although it has its drawbacks, the free market economy can also provide consumers with high-quality products and with a wide range of choices.
选项
答案
Buildings, machines, equipment.
解析
转载请注明原文地址:https://kaotiyun.com/show/P9Xd777K
本试题收录于:
公共英语五级笔试题库公共英语(PETS)分类
0
公共英语五级笔试
公共英语(PETS)
相关试题推荐
HowDidSheConquertheAmericans?African-AmericantalkshowqueenOprahWinfreyistheworld’smostpowerfulcelebrity,ac
HowDidSheConquertheAmericans?African-AmericantalkshowqueenOprahWinfreyistheworld’smostpowerfulcelebrity,ac
SymptomsofPervasiveAnti-IntellectualismAmericanstodaydon’tplaceaveryhighvalueonintellect.Ourheroesareathl
Americanyoungpeoplefindthetransitionintoadulthoodeasytoface.
USBlacksHard-hitbyCancerDeathratesforcancerarefallingforallAmericans,butblackAmericansarestillmorelikely
USBlacksHard-hitbyCancerDeathratesforcancerarefallingforallAmericans,butblackAmericansarestillmorelikely
AnswerQuestionsbyreferringtotheeventswhichhappenedduringthetermswhen3Americanpresidentsheldofficeinthefollow
NoteveryPresidentisaleader,buteverytimeweelectaPresidentwehopeforone,especiallyintimesofdoubtandcrisis.I
随机试题
S市公共设施破旧不堪,引起市民的不满,但S市的财政不能提供更新公共设施的资金,而S市市政府增加财政收入的唯一途径就是提高市民的税收,提高税收也会引起市民的不满。上述陈述能推出以下哪项?
呕吐物含大量胆汁提示梗阻平面在
哈某于2000年3月被人民法院以窃取国家秘密罪而宣判,经过一审后,哈某不服提起上诉,上级人民法院维持原判。下列情况中,可能引起审判监督程序的启动的情形是()
《火电厂大气污染物排放标准》和《水泥厂大气污染物排放标准》均要求烟尘排放浓度小于()mg/m3。
关于开放式基金收益分配原则,下列论述准确的是()
甲公司为工业制造企业,系增值税一般纳税企业,适用的增值税税率为16%。资料一:2018年12月与丙公司签订商品购销合同,合同规定甲公司在2019年3月以每件2万元的价格向丙公司销售产品1000件,若不能按时交货,将对甲公司处以总价款20%的违约金。签订
假如你是一位社会工作者,你所在的城市由于连日来的大雪致使很多社区停电、停水,居民的正常生活需要得不到保障。请针对这一情况,拟订一份社区服务方案。
下列命题属于辩证法的有()。
下列诗句没有传达出幸福感的是:
TheU.S.SpaceAgencyNASAsays______orbitingMirspacestationhaslostitsprimaryandbackupoxygensources.
最新回复
(
0
)