British made use of several techniques to establish control over the Indian market. The Manchester industrialists attached labels to their cloth bundles exported to India.
one advantage to this philosophy is that businesses faced fewer government rules and regulations. this allowes businesses to do many things. often rules and regulations add tothe costs that business faces. sometimes, rules and regulations make it harder to do business activities. when businesses have fewer rules and regulations they are generally willing to take more risks and to invest in the economy. with fewer rules and regulations, businesses have a big incentive to try to maximize profits.
a disadvantage of this policy is that businesses may engage in risky behaviors that could lead to future economic problems. in the 1920s, there were few rules and regulations on banks and on the investiment industry. to much money was being loaned to individuals and people could buy stocks woth only a small down payment. banks were also free to invest in the stock market. when the stock market crashed, many people and banks were financially ruined.
Well, it decreased the demand of Slave Labor.
Back then, the technology advancement , especially in agricultural sector, significantly increased the total production. This cause the demand of overall labor decreased. The northern US, who utilized more of this advancement more than their southern neighbor, manage to produce hundred times more output than the southern who still depended on their slave labor
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Human history, also known as world history, is the description of humanity's past. It is informed by archaeology, anthropology, genetics, linguistics, and other disciplines; and, for periods since the invention of writing, by recorded history and by secondary
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