How Did Europe's Trade Balance with the Rest of the World

question 12

Multiple Choice

How did Europe's trade balance with the rest of the world change during the Industrial Revolution?

• A) It went from a surplus to a deficit as Europeans scrambled to buy large amounts of raw materials from overseas.
• B) It went from a surplus to a deficit as the European bourgeoisie purchased new luxury goods from Asia.
• C) It went from a deficit to a surplus as Europeans sold manufactured goods around the world.
• D) It went from a deficit to a surplus as Europeans extracted nearly all their raw materials domestically.

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Definitions:

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Political stability refers to the durability and integrity of a current government regime or political system, often indicating a lack of turmoil or frequent government changes.

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The process by which a government takes control of a private industry or assets and transforms it into state ownership.

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The technique a corporation employs to determine the pricing and level of output that maximizes earnings.