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The market principle governs most economic interactions in foraging societies

a. True
b. False

User Zaczap
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Final answer:

The market principle is not the primary governing force in foraging societies; these societies often use sharing and reciprocity. The market revolution in the U.S. involved a fundamental shift towards market economies and caused major social and economic changes.

Step-by-step explanation:

The market principle does not govern most economic interactions in foraging societies. Rather, these societies are more likely to rely on sharing and reciprocal exchanges, which are suited to their subsistence living strategies. Foraging societies typically have systems that emphasize the communal sharing of resources and reciprocal obligations, instead of market-based exchanges driven by supply and demand.

Conversely, the market revolution in the United States was a transformative period during which there was a significant shift towards market-oriented economic systems, and it brought many social and economic changes to the country. This revolution moved the country away from local, subsistence economies and towards a more interconnected market system where goods and services were traded over larger distances.

In modern economies, principles such as the laws of demand and supply do play crucial roles, affecting the availability and prices of goods and services. These principles are fundamental to understanding how market economies function, but they do not necessarily apply to foraging societies which do not operate on the same market-based principles.

User Kassan
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