INDUSTRIAL REVOLUTION
INDUSTRIAL REVOLUTION AND ITS IMPACT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
land
|
|
|
labor
|
|
|
capital
|
|
|
entrepreneurs
|
|
|
investors
|
Detailed explanation-1: -Many different factors contributed to the rise of the Industrial Revolution in Britain. The new inventions, access to raw materials, trade routes and partners, social changes, and a stable government all paved the way for Britain to become an industry-driven country.
Detailed explanation-2: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Detailed explanation-3: -The four industrial revolutions are coal, gas, electronics and nuclear, and the internet and renewable energy.
Detailed explanation-4: -Natural resources-Britain had large and accessible supplies of coal and iron-two of the most important raw materials used to produce the goods for the early Industrial Revolution. Also available was water power to fuel the new machines, harbors for its merchant ships, and rivers for inland transportation.