Answer Key Components of an Industrial Economy: 10.3.5, page 42 1.
Choice A is correct. The quotation by Ludwig von Mises describes the role of entrepreneurs in an industrial economy.
2.
Choice B is correct. Von Mises says that an ability to guess what consumers would desire to buy is a key part of an entrepreneur’s success.
3.
Choice D is correct. The goal of industrial production is to manufacture consumer goods that can be sold.
4.
Choice C is correct. Increased population growth—and the labor it provided—was an enormous benefit to industrializing England.
5.
Choice C is correct. The ready availability of money is essential to entrepreneurship. Lending by new financial institutions such as banks played a key role in the industrialization of England.
