Key Area Concern Of The British Economy: Low Wage Economy Flashcards
1
Q
Who was more progressive than Britain
A
US
2
Q
What did the US introduced?
A
High wage economy which workers were paid enough to buy the goods they produced
3
Q
What did the high wage economy in the US ensure?
A
High demand and encouraged production
4
Q
Britain had the low wage economy, what was this?
A
Where only the rich and middle class could afford new manufactured goods
