Question

The Industrial Revolution involved some major changes in economics. Which of the following is NOT a true statement concerning the economics of the Industrial Revolution?
A. Capital rather than land became the major source of wealth in industrial countries.
B. Short-term capital was most often used to purchase more land.
C. Industrialization demanded two kinds of capital: long-term and short-term.
D. Industrial-based societies demanded more-complex financial systems than agriculturally based societies.

Answer 1

The statement which is not true about concerning the economics of the Industrial Revolution is Short-term capital was most often used to purchase more land.

Answer: Option B

Explanation:

The statements that have been given in the question are directly related to the changes in the economy because of the industrial revolution. Capital became more important than land during the era of industrial revolution and there was need of two kinds of capital short term and long term for industrialization.

More over the financial systems in this era was much more complex as compared to the agricultural based society. But purchasing of land with short term capital had no direct link with industrial revolution.