The roles of political parties are educating the public to important issues, acting as an institutional watchdog, and facilitating compromise and coordination in government. Political parties do not draft bills for Congressional consideration.
The answer is the last statement.
The long-term impact of the break from the Catholic Church was the rise of Protestantism, a denomination within Christianity.
People who followed Martin Luther would establish communities which later formed the protestant Churches and people who remained loyal to the Catholic Church ensured the continued existence of the Church.
Today we can still see the split, for example, Southern Europe is mostly catholic and northern Europe is mostly Protestant.
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That statement is false.
It is true that United States adopt a free market system which allow organisations to fully compete and determine the outcome of supply and demand.
That is being said, Business law and Government regulations are still considered to be an important aspects in businesses because it creates a standard rule for fair competition.