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Standard XI
Economics
Law of Diminishing Returns
How did the s...
Question
How did the scrapping of Corn Laws transform the economy of Britain?
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Solution
After the Corn Laws were scrapped, food could be imported into Britain more cheaply than it could be produced within the country
British agriculture was unable to compete with imports.
Vast areas of land were now left uncultivated and thousands of men and women were thrown out of work. They flocked the cities or migrated overseas.
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