Monometalism, Westward Expansion And World War I

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The economy is the different values of different items, goods, or companies. When the economy changes the prices of those goods, items, and value of companies change. A change in the economy can impact many things such as money, debt, jobs, and almost anything involving money. Some of the things that impacted the economy were bi and monometalism, Westward Expansion, and World War One. Currency is the money used in each country, some currency is worth more than others. In the US some people wanted bimetallism and some favored monometalism. Monometalism is only wanting one metal such as only silver or only gold. Bimetallism is wanting both silver and gold. When the economy changes the value of gold and silver are affected. For example if the …show more content…
John Rockefeller was the owner of a large oil company. No other company could compete with him which helped him create his monopoly. He sold oil for higher prices but companies had no other choice when buying so the had to pay. Also the companies that were buying the oil were large railroad companies so without large amounts of oil they could not succeed. For a long time no one had any power over monopolies. Eventually the the US realized that monopolies were hurting the economy and ruining other small companies. Even today there are still modern day monopolies that many people do not notice. For example Netflix is a monthly paid application downloaded to your TV and or your phone. Netflix offers lots of TV shows, movies, and TV series. Since Netflix offers all of this they put lots of movie renting places out of business like Blockbuster for example. They also cause less people to use cable TV which leaves less money for companies like Comcast.(10 Companies You Probably Never Realized Had …show more content…
and its allies. Lots of stores stopped producing things for people in the U.S. and began to send what they made overseas to the soldiers in order to contribute with the war. The food administration came up with days like meatless monday and sugarless saturdays to use the meat or whatever the product that wasn’t purchased that day to send to the soldiers to have food. Since this happened a lot of the food and clothing industries lost money because their items weren’t really making money since they weren’t being bought and being donated to the war

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