Discover what each letter stands for in the acronym "M.A.I.N".
Read the articles below.
Read the articles below.
A market can be defined as a place where any type of trade takes place. Markets are dependent on two major participants – buyers and sellers. Buyers and sellers typically trade goods, services and information. Historically, markets were physical meeting places where buyers and sellers gathered together to trade. Although physical markets are still vital, virtual marketplaces supported by IT networks such as the internet have become the largest and most liquid.
The number of buyers and sellers involved will have a direct bearing on the price of the good or service to be sold and has become known as the law of supply and demand. When there are more sellers than buyers, the availability of supply will push down prices. If there are more buyers than sellers, the increased demand will push up prices.
The number of buyers and sellers involved will have a direct bearing on the price of the good or service to be sold and has become known as the law of supply and demand. When there are more sellers than buyers, the availability of supply will push down prices. If there are more buyers than sellers, the increased demand will push up prices.
Imperialism occurs when a strong nation takes over a weaker nation or region and dominates its economic, political, or cultural life. This type of foreign policy was practiced by European nations and Japan throughout the 1800s and early 1900s. In every case, a nation would experience industrialization prior to practicing imperialism on a foreign nation or region. This was due to the nearly insatiable demand for cheap raw materials and the need for markets to buy manufactured goods.
Abundant raw materials and vast markets are needed in order to maintain an industrialized economy. Raw materials such as iron and cotton can be turned into products such as steel and textiles. Finally, these products need to be sold to a market in order to realize a profit. The forces of industrialization caused nations to begin looking outside of their borders for cheaper and more abundant raw materials. Foreign populations were also viewed as vast markets where goods produced in domestic factories could be sold.
Abundant raw materials and vast markets are needed in order to maintain an industrialized economy. Raw materials such as iron and cotton can be turned into products such as steel and textiles. Finally, these products need to be sold to a market in order to realize a profit. The forces of industrialization caused nations to begin looking outside of their borders for cheaper and more abundant raw materials. Foreign populations were also viewed as vast markets where goods produced in domestic factories could be sold.
Capitalism is an economic system in which capital goods are owned by private individuals or businesses. The production of goods and services is based on supply and demand in the general market (market economy), rather than through central planning (planned economy or command economy).
The purest form of capitalism is free market or laissez-faire capitalism, in which private individuals and businesses are completely free to determine where to invest, what to produce or sell, and at which prices to exchange goods and services, without check or controls. Most modern countries practice a mixed capitalist system of some sort that includes government regulation of business and industry.
The purest form of capitalism is free market or laissez-faire capitalism, in which private individuals and businesses are completely free to determine where to invest, what to produce or sell, and at which prices to exchange goods and services, without check or controls. Most modern countries practice a mixed capitalist system of some sort that includes government regulation of business and industry.
Nationalism is the belief that your own country is better than all others. Sometimes nationalism makes people not want to work with other countries to solve shared problems. It is important not to confuse nationalism with patriotism. Patriotism is a healthy pride in your country that brings about feelings of loyalty and a desire to help other citizens. Nationalism is the belief that your country is superior, without question or doubt. In some cases, nationalism can inspire people to break free of a foreign oppressor, as in the American Revolution, but nationalism can also lead a country to cut itself off from the rest of the world. Throughout history people have been attached to their native soil, to the traditions of their parents, and to established territorial authorities; but it was not until the end of the 18th century that nationalism began to be a recognized sentiment molding public and private life into one of the great, if not the greatest, single determining factors of modern history.