WORLD HISTORY

Detailed explanation-1: -Another major reason why the Industrial Revolution began in Great Britain was that it had an abundant supply of what economists call the three “factors of production". These factors of production are land, labor, and capital.

Detailed explanation-2: -These resources included coal, water, iron ore, rivers, harbors, and banks Britain also had all the factors of production that the Industrial Revolution required. These factors of production included land, labor (workers), and capital (wealth).

Detailed explanation-3: -Some of the main reasons for the Industrial Revolution to begin in England are: It had banks of raw materials from its colonies under the British crown. It had a well developed banking system that encouraged the wealthy to invest in infrastructure and anyone who wanted to run their own business.

Detailed explanation-4: -Coal and cotton were the raw materials necessary for industrialization. Great Britain had access to both. They also had colonies around the world-colonies that could provide both raw materials and markets to buy British manufactured goods.

Detailed explanation-5: -Producing cloth became faster and required less time and far less human labor. More efficient, mechanized production meant Britain’s new textile factories could meet the growing demand for cloth both at home and abroad, where the British Empire’s many overseas colonies provided a captive market for its goods.

Detailed explanation-6: -efficient agriculture. coal as a cheap fuel. significant urbanisation. high cost of labour. intercontinental trade opportunities. government support of business. innovation and entrepreneurship. More items •14-Apr-2023