Question #b35ca

1 Answer
Oct 24, 2017

Trade with captive markets..........


Creation of an empire gained access to raw materials which were brought back to England to be processed into manufactured goods which were exported back to the empire for sale

This virtuous circle helped protect British Industry from many of the many ups and downs of early economies by providing a captive market who could only but British Goods

The expansion of Empire also generated some near monopolies of certain raw materials which greatly benefited British Industry as it made foreign manufacturers pay significantly higher prices for raw materials leaving British Industry able to undercut them

The military power of the Empire also created diplomatic situations where very one sided trade deals could be forced on non colonised countries