Which of the Following Is Not a Reason Why the Industrial

question 173

Multiple Choice

Which of the following is not a reason why the Industrial Revolution occurred when and where it did?

• A)The British government was committed to upholding private property rights.
• B)The British government was able to eliminate arbitrary increases in taxes.
• C)The British government was able to more easily seize wealth.
• D)Institutional changes by the British government helped protect wealth.

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Horizontal Merger

The combination of two or more firms competing in the same market with the same good or service.

Horizontal Merger

A merger between companies that operate in the same industry, often as direct competitors.

Supplier-Customer Relationships

This term refers to the interactions and dealings between a business that provides products or services and its buyers.