Which of the following practices was adopted during the establishment of Minnesota statehood and allowed settlers to buy a tract of land, break it down into smaller lots, and sell the lots for a profit?
A. homesteading
B. land speculation
C. land harvesting
D. settlement
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The correct answer is B. land speculation.
Land speculation was a practice adopted during the establishment of Minnesota statehood that allowed settlers to buy a tract of land, break it down into smaller lots, and sell the lots for a profit.
To get the answer, you can start by understanding the meaning of each option:
A. Homesteading: Homesteading refers to a system where settlers are granted a specific amount of public land to develop and cultivate for a certain period of time.
B. Land speculation: Land speculation involves purchasing land with the expectation that its value will increase over time, allowing the investor to make a profit by selling it.
C. Land harvesting: The term "land harvesting" is not a commonly used phrase in this context, so it is unlikely to be the correct answer.
D. Settlement: Settlement refers to the process of establishing a new community or town in a previously uninhabited area.
By comparing the given options, you can see that land speculation best fits the practice of buying a tract of land, breaking it down into smaller lots, and selling them for profit. Therefore, the correct answer is B. land speculation.