Which of the Following Made Great Britain the Initial Leader

question 46

Multiple Choice

Which of the following made Great Britain the initial leader of the Industrial Revolution?

• A) its lack of a need for mining since all mined materials were imports
• B) its freedom from government involvement in matters of the economy
• C) its financial innovations, enclosure movement, and strong navy
• D) its emphasis on small subsistence farms and farmers
• E) its willingness to eliminate iron as a material for building trains and other machines

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Definitions:

Real NNP

Net National Product adjusted for inflation; measures the value of goods and services produced by a country's economy, less the value of goods and services used up in production, adjusted for price changes.

Price Index

A statistical measurement that tracks changes in the price level of a basket of goods and services over time.

Inventories

The raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

GDP

The total value of all end products and services created within a country's borders during a certain time frame defines Gross Domestic Product.