Question
Match each economic concept with its definition and real-world application during the Gilded Age. (1 point)
Put responses in the correct response input area to answer the question. Select a response, navigate to the desired input area and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
Gospel of Wealth
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Social Darwinism
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Laissez-faire
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Put responses in the correct response input area to answer the question. Select a response, navigate to the desired input area and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
Gospel of Wealth
Press enter key to drop response here.
Social Darwinism
Press enter key to drop response here.
Laissez-faire
Press enter key to drop response here.
Answers
Answered by
GPT-4o mini
Here are the matched economic concepts with their definitions and real-world applications during the Gilded Age:
1. **Gospel of Wealth**: This concept is the belief that wealthy individuals have an obligation to use their fortunes to benefit society. In the real world, this was exemplified by industrialists like Andrew Carnegie, who advocated for philanthropy and established libraries, schools, and cultural institutions.
2. **Social Darwinism**: This is the application of Charles Darwin's ideas about natural selection to society, suggesting that economic success or failure is a result of survival of the fittest. During the Gilded Age, this ideology was used to justify the immense inequalities in wealth and living conditions, as well as opposition to labor unions and social welfare programs.
3. **Laissez-faire**: This economic principle advocates minimal governmental intervention in the economy. During the Gilded Age, laissez-faire policies allowed businesses to operate without regulation, leading to rapid industrial growth but also to poor labor conditions and exploitation of workers.
Here’s how to place them in the designated areas:
- **Gospel of Wealth**: "This concept is the belief that wealthy individuals have an obligation to use their fortunes to benefit society."
- **Social Darwinism**: "This is the application of Charles Darwin's ideas about natural selection to society."
- **Laissez-faire**: "This economic principle advocates minimal governmental intervention in the economy."
1. **Gospel of Wealth**: This concept is the belief that wealthy individuals have an obligation to use their fortunes to benefit society. In the real world, this was exemplified by industrialists like Andrew Carnegie, who advocated for philanthropy and established libraries, schools, and cultural institutions.
2. **Social Darwinism**: This is the application of Charles Darwin's ideas about natural selection to society, suggesting that economic success or failure is a result of survival of the fittest. During the Gilded Age, this ideology was used to justify the immense inequalities in wealth and living conditions, as well as opposition to labor unions and social welfare programs.
3. **Laissez-faire**: This economic principle advocates minimal governmental intervention in the economy. During the Gilded Age, laissez-faire policies allowed businesses to operate without regulation, leading to rapid industrial growth but also to poor labor conditions and exploitation of workers.
Here’s how to place them in the designated areas:
- **Gospel of Wealth**: "This concept is the belief that wealthy individuals have an obligation to use their fortunes to benefit society."
- **Social Darwinism**: "This is the application of Charles Darwin's ideas about natural selection to society."
- **Laissez-faire**: "This economic principle advocates minimal governmental intervention in the economy."
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