By 1860, One Would Most Likely Encounter Norwegian and Swedish

question 69

Multiple Choice

By 1860, one would most likely encounter Norwegian and Swedish immigrants in:

• A) New York and New Jersey
• B) Ohio and Pennsylvania
• C) California and Oregon
• D) Wisconsin and Minnesota
• E) Texas and Louisiana

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Definitions:

Economic Organization

Structured arrangements within an economy that determine how resources are allocated, goods are produced, and services are distributed.

Socialism

A system of economic organization in which (1) the ownership and control of the basic means of production rest with the state and (2) resource allocation is determined by centralized planning rather than by market forces.

Central Planning

A system where decisions about production, investment, and distribution are made by the government or a centralized authority.

Comparative Advantage

The capability of a person or group to execute a specific economic action more effectively than another action.