The Factory Villages Where Entire Families Labored for Mill Owners

question 28

Multiple Choice

The factory villages where entire families labored for mill owners in the process of cloth production was known as the

• A)Lowell system.
• B)Waltham system.
• C)Rhode Island system.
• D)Massachusetts system.
• E)Carnegie system.

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Definitions:

Economic Theory

A set of principles and methodologies that economists use to understand, explain, and make predictions about economic processes and behaviors.

Economist's Main Professional Objective

The primary goal of economists is to understand how economies operate and to develop strategies or policies to improve economic welfare and efficiency.

Average Behavior

the typical or mean actions or reactions of a group or individual, serving as a standard or norm for comparing specific behaviors.

Rent Controls

Government-imposed limits on the amount landlords can charge for leasing residential properties to ensure affordable housing.