Answer the Following Questions

question 82

Multiple Choice

Answer the following questions :
-Commonwealth System

• A)A system of government-assisted economic development embraced by republican state legislatures throughout the nation,especially in the Northeast.This system of activist government encouraged private entrepreneurs to seek individual opportunity and the public welfare through market exchange.
• B)First major economic crisis of the United States.Farmers and planters faced an abrupt 30 percent drop in world agricultural prices,and as farmers' income declined,they could not pay debts owed to stores and banks,many of which went bankrupt.
• C)The republican system of political economy created by state governments by 1820,whereby states funneled aid to private businesses whose projects would improve the general welfare.
• D)The dramatic increase between 1820 and 1850 in the exchange of goods and services in market transactions.This shift reflected the increased output of farms (including cotton plantations)and factories,the entrepreneurial activities of traders and merchants,and the creation of a transportation network of roads,canals,and railroads.
• E)A 364-mile waterway connecting the Hudson River and Lake Erie.This waterway brought prosperity to the entire Great Lakes region,and its benefits prompted civic and business leaders in Philadelphia and Baltimore to propose canals to link their cities to the Midwest.
• F)A burst of major inventions and economic expansion based on water and steam power and the use of machine technology that transformed certain industries,such as cotton textiles and iron,between 1790 and 1860.
• G)The economic system that developed in the first half of the nineteenth century binding together southern cotton production with northern clothmaking,shipping,and capital.
• H)A term used in the nineteenth century to refer to skilled craftsmen and inventors who built and improved machinery and machine tools for industry.
• I)A system of labor using young women recruited from farm families to work in factories in Lowell,Chicopee,and other sites in Massachusetts and New Hampshire.The women lived in company boardinghouses with strict rules and curfews and were often required to attend church.
• J)The practice of ending slavery in the distant future while recognizing white property rights to the slaves they owned.Generally,living slaves were not freed by this practice;it applied only to slaves born after the passage of the statute,and only after they had first labored for their owners for a term of years.
• K)The legal act of relinquishing property rights of slaves.Worried that a large free black population would threaten the institution of slavery,the Virginia assembly repealed Virginia's 1782 law regarding this legal act ten years later.
• L)The domestic slave trade,with routes along the Atlantic coast that sent thousands of slaves to sugar plantations in Louisiana and cotton plantations in the Mississippi Valley.
• M)The slave trade system in the interior of the country that fed slaves to the Cotton South.
• N)A system of bondage in which a slave has the legal status of property and so can be bought and sold.
• O)The ideology held by slave owners who considered themselves committed to the welfare of their slaves.
• P)Cutting,boring,and drilling machines used to produce standardized metal parts,which were then assembled into products such as textile looms and sewing machines.The rapid development of these instruments by American inventors in the early nineteenth century was a factor in the rapid spread of industrialization.
• Q)An ideology that celebrated small-scale producers,men and women who owned their own shops (or farms).It defined the ideal republican society as one constituted by,and dedicated to the welfare of,independent workers and citizens.
• R)Organizations of workers that began during the Industrial Revolution to bargain with employers over wages,hours,benefits,and control of the workplace.
• S)The belief that human labor produces economic value.Adherents argued that the price of a product should be determined not by the market (supply and demand)but by the amount of work required to make it,and that most of the price should be paid to the person who produced it.
• T)A system of work discipline used on southern cotton plantations in the mid-nineteenth century in which white overseers or black drivers supervised gangs of enslaved laborers to achieve greater productivity.
• U)An economic group of prosperous farmers,artisans,and traders that emerged in the early nineteenth century.Its rise reflected a dramatic increase in prosperity.This surge in income,along with an abundance of inexpensive mass-produced goods,fostered a distinct urban culture.
• V)A nineteenth-century ideal that celebrated men who rose to wealth or social prominence from humble origins through self-discipline,hard work,and temperate habits.

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Definitions:

Engineering Changes

Modifications to the design, materials, or specifications of a product or system, often made to improve performance, reduce costs, or correct defects.

Indirect Cost

Expenses not directly tied to the production of goods or services, such as administrative salaries, rent, and utilities.

Days' Payable Outstanding

A financial metric that calculates the average time it takes a company to pay its invoices from suppliers, reflecting its payment process efficiency.

Cash Conversion Cycle

An indicator that calculates how long a business requires to turn its inventory and asset investments into cash earnings from sales activities.