WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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British investors stopped working, which caused Britain’s capital to decrease by over 75%.
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British investors rioted, which caused Great Britain to end the policy.
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British workers decided to work elsewhere for more money, and broke the law.
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None of the above
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Detailed explanation-1: -Parliament offered the British East India Company a monopoly on the tea trade in the American colonies as a way to help get the East India Company out of debt. Parliament also hoped that the monopoly would, through lowering the price of British tea, do away with the illegal smuggling of Dutch tea in the colonies.
Detailed explanation-2: -The new English East India Company was a monopoly in the sense that no other British subjects could legally trade in that territory, but it faced stiff competition from the Spanish and Portuguese, who already had trading outposts in India, and also the Dutch East Indies Company, founded in 1602.
Detailed explanation-3: -The Charter Act of 1813; ended the trade monopoly of East India Company in India. Charter Act of 1833; It ended the monopoly in trade with China and the monopoly to trade in tea in India and so on.
Detailed explanation-4: -The charter Act 1853 abolished East India Company’s Monopoly of India trade. 2. Under the government of India Act 1858, the British parliament abolished the East India company altogether and took responsibility of ruling India directly.