HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which condition is most necessary to the process of industrialization in a society?
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dependence on subsistence agriculture.
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creation of a one-crop economy.
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availability of investment capital.
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capture of foreign lands.
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Explanation:
Detailed explanation-1: -Industrialization can be driven by a combination of factors including government policy, labor-saving inventions, entrepreneurial ambitions, and a demand for goods and services.
Detailed explanation-2: -These factors of production are land, labor, and capital. These describe the inputs used in the production of goods or services in order to make an economic profit.
Detailed explanation-3: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
There is 1 question to complete.