how did the british government encourage commercialization and economic innovation?
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How did the British government encourage commercialization and economic innovation? The British government allowed cheap Indian textiles into the country thereby lowering the cost of living. The British government created patent laws that protected the interests of inventors.
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The expansion of credit in the 1920s allowed for the sale of more consumer goods and put automobiles within reach of average Americans. ... With so many new products and so many Americans eager to purchase them, advertising became a central institution in this new consumer economy.
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Domestic policy tended towards protectionism, with a strong emphasis on import substitution industrialisation, economic interventionism, a large government-run public sector, business regulation, and central planning, while trade and foreign investment policies were relatively liberal.
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GOVERNMENT'S ROLE AS REGULATOR OF BUSINESS Ensure the private investment and production in the industry meets the socio-economic objectives of the government. Ensure the efficient use of resources and prevent exploitation. ... Maintenance of a proper socio-economic infrastructure.
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The government encouraged westward expansion by providing free land to individual settlers and private corporations. The Homestead Act of 1862 gave up...
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a. Invention is promoted by discoveries in the natural sciences and more recently the biological sciences; whereas, innovation is promoted by discoveries in the industrial engineering, the social sciences and the business disciplines.
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The government encouraged the building of the transcontinental railroad by passing the Pacific Railway Act in 1862 and by offering land to railroad companies for every mile of track laid by that railroad company. ... The government offered each company land along its right-of-way.
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The industrial revolution was the force behind this New Imperialism, as it created not only the need for Europe to expand, but the power to successfully take and profitably maintain so many colonies overseas. The industrial revolution created the need for Europe to take over colonies around the world.
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['larger populations. more surpluses and more specilization. ... ', 'beginnings of government. needed leaders to make them safe. ... ', 'public buildings. used to gather the people talked to gods or spirits explained events.', 'specilized workers. skill in one work, aka- potters, weavers ect.', 'social classes. ... ', 'trade.']
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The Townshend Acts would use the revenue raised by the duties to pay the salaries of colonial governors and judges, ensuring the loyalty of America's governmental officials to the British Crown. However, these policies prompted colonists to take action by boycotting British goods.
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Supply-side policies aim to improve the long run productive potential of the economy. The economy can experience supply-side improvements in the private sector, without government intervention. For example, there could be improvements in productivity, innovation and investment.
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Why was defending the Suez Canal an important achievement for the British? The British relied on the canal for access to oil supplies and British colonies. The British relied on transportation through the canal for oil from the Middle East and exchange with colonies in India and South Asia.
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The power of the federal government grew under Henry Clay 's American System, which led to many improvements in the form of expanded roadways and canal systems. The rapid development and westward expansion during the Market Revolution resulted in land speculation which caused economic boom and bust.
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['Population shift – moving from rural agriculture to work in factories in cities.', 'Mass production of goods, increased efficiency, reduced average costs and enabled more to be produced.', 'The rise of steam power, e.g. steam trains, railways and steam-powered machines.']
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Governments grant subsidies to encourage the consumption and production of socially beneficial goods such as vaccinations. Governments grant subsidies to support a producer or industry by lower their production costs and increasing their revenue.
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Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy. ... Over time, as our society and economy have changed, government activities within each of these functions have expanded.
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Government as a Distributor of Incomes In addition to promotion and stabilization of the economy, governments also play a role as distributor of economic and social interests in the modern welfare economic system.