Which of the Following Was Not a Factor That Gave

question 41

Multiple Choice

Which of the following was not a factor that gave Britain an advantage in industrial development?

• A)Because British workers tended to be highly skilled, British entrepreneurs searched for laborsaving devices.
• B)The British had developed an effective banking system.
• C)Britain possessed the necessary raw materials, coal and iron, in abundance and in close proximity to each other.
• D)Britain was unified religiously under the Church of England, which preached that wealth was a sign of election.
• E)English workers had more discretionary income to spend on manufactured goods.

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Definitions:

Compound Interest

Interest that accrues on the principal amount as well as on the accrued interest from earlier periods, for either a deposit or a loan.

Simple Interest Rate

The percentage of interest paid on the original principal amount of a loan or investment, not compounding over time.

Compound Interest

Interest on both the initial principal and the accumulated interest from previous periods on a deposit or loan.

Rates of Return

Financial returns or setbacks on an investment throughout a chosen timeframe, indicated as a percentage of the investment's original expenditure.