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Every society has some land, labor, capital and entrepreneurs.
a. True
b. False

1 Answer

1 vote

Final answer:

It is true that every society contains land, labor, capital, and entrepreneurs, which are essential for economic activity. The market revolution fundamentally altered American society and economics. Additionally, land acquisition played a significant role in the formulation of early U.S. Indian policy.

Step-by-step explanation:

The statement that every society has some land, labor, capital, and entrepreneurs is true. These are known as the four factors of production that are fundamental for any economy. In the context of societal development and economic activity, land represents natural resources, labor stands for the workforce, capital includes tools and equipment necessary for production, and entrepreneurs are the individuals who bring these factors together to create value and drive economic progress. Historically and in modern times, societies have leveraged these resources for various purposes, including the expansion of industry during the market revolution.

The assertion that the market revolution brought many social and economic changes to the United States is also true. This period saw significant changes in the way goods were produced and distributed, which had substantial impacts on the social structure and the economy of the country.

In the case of U.S. history, the acquisition of land was indeed a key factor in policies such as those directed at indigenous peoples, primarily because land is a valuable resource necessary for expansion and growth.

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