Question

Which of the following statements related to the economic impacts of American Revolution are incorrect?

1.It gave the impetus to the policy of liberalism and free trade.

2.It was realised that the principles of free trade and commercial monopoly Where are opposed to each other.

3.The former conservative policy of denial of economic Independence was relaxed considerably.

• A. 1 and 2 only
• B. 3 and 2 only
• C. 1,2 and 3
• D. None of the above

Answer 1

Answer:

D. None of the above

• The American Revolution promoted liberal economic policies and advocated for free trade, moving away from colonial restrictions and mercantilist policies.

• It marked a shift towards an economy driven by market principles and individual enterprise.

• The Revolution highlighted the contradiction between free trade principles and commercial monopolies enforced by colonial powers.

• This realization helped push for more open economic systems.

• The Revolution led to the relaxation of conservative economic policies.

• Restrictions on economic activities were loosened to promote self-sufficiency and trade freedom.