Question

In the mean time, one of the principal effects of those discoveries has been, to raise the mercantile system to a degree of splendour and glory which it could never otherwise have attained to. It is the object of that system to enrich a great nation, rather by trade and manufactures than by the improvement and cultivation of land, rather by the industry of the towns than by that of the country. . . .Two new worlds have been opened to their industry, each of them much greater and more extensive than the old one, and the market of one of them growing still greater and greater every day. –Adam Smith An Inquiry Into the Nature and Causes of the Wealth of Nations An economic consequence of the material wealth returned to Europe due to colonization and exploration was A - increased upward mobility for lower-class citizens. B - a greater reliance on industry rather than agriculture. C - increased government spending on public works initiatives. D - high unemployment, as wealth shifted from goods production to the financial sector.

Answer 1

Answer:

B.

Explanation:

'An Inquiry Into The Nature and Causes of the Wealth of Nations' by Adam Smith is considered to be his masterwork, as it provided the fresh description on nation's wealth and what factors are involved in building it.

In his book, he described that the growing industrialized capitalist market was inversing the mercantilist system. During the colonization and exploration in America, the result of wealth returned to the continent was greater reliance on industry than agriculture.

The book reflects upon the growing industrilization during the Industrial Revolution. With the expansion of colonies, the industries begin to grow.

The lines from the given text that supports the claim is:

'Two new worlds have been opened to their industry, each of them much greater and more extensive than the old one, and the market of one of them growing still greater and greater every day.'

Thus the correct answer is option B.