THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Taxes on foreign goods
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Government regulations improving factory conditions
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Ending child labor in factories
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Unregulated factories with unsafe conditions
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Detailed explanation-1: -A laissez-faire economy gives businesses more space and autonomy from government rules and regulations that would make business activities harder and more difficult to proceed. Such an environment makes it more viable for companies to take risks and invest in the economy.
Detailed explanation-2: -Detractors feel laissez-faire actually leads to poverty and economic imbalances. The idea of letting an economic system run without regulation or correction in effect dismisses or further victimizes those most in need of assistance, they say.
Detailed explanation-3: -Answer and Explanation: Laissez-faire economics promoted industrialization by not allowing the government to interfere or to interfere as little as possible with the economic practice of the country. It managed to keep taxes low while encouraging private investment.
Detailed explanation-4: -Laissez Faire affected the Industrial Revolution by taking power from the government when they were not allowed to interfere in the businesses.