Which of the Following Is Not a Reason Why the Industrial

question 51

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.
• E)The British courts were effective at enforcing contracts.

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Definitions:

Determinants

Factors that can influence the outcome of a certain situation or the value of a specific variable in economics.

Demand

The quantity of a particular good or service that consumers are willing and able to purchase at a given price level.

Budget Line

A graphical representation of all possible combinations of two goods which can be purchased with a given budget and prices.

Two-Product Case

A scenario in economic analysis focusing on the effects of changes in production levels, costs, and demand for two products simultaneously.