Question

What was Adam Smith's contribution to early Industrial Revolution in Great Britain?

Answer 1

The correct option is C

The technical changes related to cotton textiles, the iron industry and the introduction of steam power are at the core of the so-called industrial revolution in Great Britain, but they were not the only industries that underwent so many changes. In the same way, not all of them demanded the use of mechanical energy. At the same time that James Watt was perfecting the steam engine, his illustrious compatriot Adam Smith related in Wealth of Nations the great increase in productivity obtained in a pin factory simply with the specialization and division of labor. In some aspects, Smith's pin factory can be considered as an emblem of the various industries dedicated to the production of consumer goods.

Answer 2

Answer: B - His Writings formed the basis of a capitalist or market economy.

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