The other major manufacturers of the world stopped trading
The colonies were better off governing themselves without British influence.
I don't really know this answer I am stuck on it too! Will give you an update on if I got it wrong or right!
:-)
Answer: The Magna Carta was a contract signed by king John in 1215. It implied that the king would not violate rights again. Why Magna Carta was important because it limited power of rulers. It also introduced the idea or writing humans rights. The reason the Magna Carta was signed and existed as a contract because the abuse of power by tyrant. The people wanted equality in the power they wanted a say so.
I hope this helps :)