Identify and Give the Historical Significance of Each of the Following

question 29

Essay

Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-Compare the stock market boom of the 1990s with that of the 1920s. What fueled the markets in each decade? Who participated in the market in each decade? Why did each market's proverbial bubble burst?

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Definitions:

Wage Rate

The standard amount of compensation paid to employees per unit of time worked, such as an hour or a year.

Firms

Businesses or companies that produce goods or provide services in exchange for monetary profit.

Hired Workers

Individuals employed to perform services or labor for compensation under the direction of an employer.

Derived Demand

Demand for a product or service that results from the demand for another good or service, like the demand for steel driven by demand for cars.