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Question

Select the correct option based on the following statements.

Statement 1: In England, during 19th century, large-scale production was done by using power-driven machinery in big factories, which could be established and maintained only by a large expenditure of capital.
Statement 2: England had very little capital for large enterprises.

A
Statement 1 is incorrect but Statement 2 is factually accurate.
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B
Both Statement 1 and Statement 2 are incorrect.
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C
Statement 1 is correct but Statement 2 is factually incorrect.
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D
Both Statement 1 and Statement 2 are correct.
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Solution

The correct option is C Statement 1 is correct but Statement 2 is factually incorrect.
Many from the working class worked in factories where large-scale production was done using power-driven machinery. Capital is any investment that is made to buy land or in this case, land and machinery. England had ample capital for large enterprises as a result of capturing a number of colonies overseas. Cheap raw material was sourced from these colonies which contributed to the significantly lower production costs for England.

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