Which of the following is not a reason why the Industrial Revolution occurred wh

Question

Which of the following is not a reason why the Industrial Revolution occurred when and where it did? The British government was committed to upholding private property rights. The British government was able to eliminate arbitrary increases in taxes. The British government was able to more easily nationalise firms. Institutional changes by the British government helped in protecting wealth Policies to promote growth by increasing savings and investment work through: decreasing the supply of loanable funds, lowering the interest rate, raising the level of investment in physical capital. increasing the supply of loanable funds, increasing the interest rate, raising the level of investment in physical capital. increasing the supply of loanable funds, lowering the interest rate, lowering the level of investment in physical capital increasing the supply of loanable funds, lowering the interest rate, raising the level of investment in physical capital.

Explanation / Answer

The right answer is option 3. The British government was able to more easily nationalize firms.

Explanation: Before the industrial revolution, the government enacted various laws to protect private property. In addition, many new institutions such as the central bank were created to protect private property. Moreover, the tax rate was very high and arbitrary before the industrial revolutions. Steps were taken to contain the arbitrary rise in taxes. These all contributed to the initiation of the industrial revolution.

However, nationalization of firms was not one of the reasons for industrial revolution.

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