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Identify and Give the Historical Significance of Each of the Following

question 122

Essay

Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-New England merchant elite


Definitions:

Scientific Management

A management theory that analyzes and synthesizes workflows, aiming to improve economic efficiency and labor productivity.

Sociologist

A social scientist who studies the development, structure, and functioning of human society and the social problems it faces.

Free Markets

Economic systems in which prices for goods and services are determined by the open market and consumers, in the absence of government intervention.

Regulated Markets

Markets that are subject to oversight and control by governmental or other authoritative entities to ensure fairness, competition, and compliance with laws.

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