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Question
laissez-faire
government does not interfere in business.
my example:
bessemer process
a method to make steel quickly and cheaply.
my example:
merger
two companies join together to form one.
my example:
corporation
a business owned by many investors who buy shares.
my example:
For "Laissez - faire", an example could be the United States during the Gilded Age, where the government had minimal regulation on industries like railroads and oil, allowing businesses to operate with little interference.
For "Bessemer Process", an example is how Andrew Carnegie used this process in his steel mills to mass - produce steel, which was crucial for building infrastructure like skyscrapers and railroads.
For "Merger", an example is the merger of Exxon and Mobil to form ExxonMobil, where two large oil companies combined to create a more powerful entity.
For "Corporation", an example is Apple Inc., which is owned by many shareholders who buy stocks (shares) of the company.
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- Laissez - faire example: The US Gilded Age business regulation (minimal govt. interference).
- Bessemer Process example: Carnegie's steel mills mass - producing steel.
- Merger example: Exxon and Mobil merging to form ExxonMobil.
- Corporation example: Apple Inc. (owned by shareholders via shares).