In Country X, the land-owning elite were powerful enough to influence the government. The subsequent removal of tariffs by the government, while benefitting the landowners, negatively impacted the local company Acme Manufacturing. As a result, Acme Manufacturing was no longer financially viable and had to shut down. Which term describes the policy that was enacted by the government?
A) capitalism
B) free trade
C) merchantilism
D) modernization

Question

Quizplus · Accepted Answer

The policy enacted by the government is free trade, which involves the removal of tariffs and barriers to trade. While this policy benefits the land-owning elite, it can negatively impact local businesses and industries that are unable to compete with cheaper foreign goods.

In Country X, the Land-Owning Elite Were Powerful Enough to Influence