Why Did the United States Not Develop a Noble Class

question 42

Multiple Choice

Why did the United States not develop a noble class?

• A) There were virtually no wealthy people in the 1780s.
• B) Most of the landowners still resided in England.
• C) The ideals of Thomas Paine criticized the notion of nobility.
• D) The planter class in the South criticized nobility.
• E) The Catholic Church condemned the noble class.

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Definitions:

Target Cost

The maximum amount that can be spent on a product to ensure a desired profit margin is achieved.

Market Dictated Price

The price of a good or service as determined by the supply and demand dynamics in the open market.

Markup Percentage

A percentage added to the cost price of goods to cover overhead and profit.

Total Cost Concept

An accounting principle that sums all costs associated with the production of a good or service, including direct, indirect, fixed, and variable costs.