1. Read die Intro to Unit 4. What are 3 results of the Industrial Revolution in England that contributed to the rise of the free market I capitalism? (3 marks] 2. Identify the four principles of individualism that are central to economic practice and explain the role each principle plays in a free-market economy. (4 marks) 3. (2.4.0) All economic systems need to solve the problem of but have the same long-term goal of . (2 marks) 4. Describe the characteristics of collectivist economies (left on the spectrum) and individualist economies (right on spectrum}. (2 marks) Socialism Capitalism 5. (2.4.1)Why did Adam Smith think the system of mercantillsm was bad? [1 mark)