The best known statement of the theory of nullification during this period was said by John C. Calhoun
If a country export a greater value than imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than export, it has a trade deficit or negative trade balance
Answer:
Industrialization was greatly increasing the economic, military, and political strength of the societies that embraced it. By and large, the countries that had benefited from industrialization were the ones that had the most necessary components of land, labor and capital, and often the government support.
Explanation:
