1. Capitalism - Force of Social Change
Stiff competition among producers creates a pressure to increase production since mass production reduces costs, lowers prices and increases the market share. ... Workers are then laid off, or their salaries reduced, further reducing consumer demand. ... In particular, no country was spared from its effects as international trade dropped by 50%. ...
- Word Count: 1750
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate