Economics question

considering your previous knowledge of monopolies and the nature of competition; how do monopolies hinder competition and why is it important for governments to take steps to limit this business practice? provide at least two examples. (6pts)

textbook pages: (151–154)

d

explanation:

the correct answer is a) egypt and china.

egypt and china are two of the world’s oldest civilizations known by man. both ancient empires have left a great historic and cultural legacy to the world through archeology. both civilzations developed complex social relations, had deep religious beliefs, had dominion of agriculture and left writing records to understand their customs and culture.

among the requirements to consider a civilization, we find urbanization, writing records, a place of residence, agriculture methods, technological specialization, means of transportation, currency, population density, social stratification, and political integration.

from the religious point of view, the conflicts began because of the enmity between catholic and protestants. in 1649, at the insistence of baltimore, the colonial assembly approved the act of religious tolerance, the first law in the colonies granting freedom of worship, though only for christians. in 1654, however, with the protestants of maryland in the majority, the act was revoked. the almost civil war broke out and order was not restored until 1658, when lord baltimore was returned to power.

on the issue of class conflict, the chesapeake region offered few economic opportunities to contract employees who had served their term of obligation. even with the small amount of capital needed to grow tobacco, former hired servants at best became subsistence farmers, a mature class for those called to rebellion, such as those proposed by nathaniel bacon. as the number of new hired workers declined because of limited chances of progress and reports of severe treatment, they were replaced by african slaves.

from the racial point of view, after 1660, the chesapeake colonies imposed laws that defined slavery as a lifelong and hereditary condition based on race. this made slaves profitable because planters could rely not only on their work but also on their children. the slave population, which numbered four thousand in virginia and maryland in 1675, grew significantly by the end of the century.

mint more silver currency sorry its probably to late.