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    Agrevtoindrev 4 Factors

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    The Industrial Revolution began in England in the mid-1700s as innovations in agriculture increased food production and freed up a rural workforce. This allowed England to transition from a primarily agricultural economy to one based on manufactured goods in factories. Key factors that enabled England's Industrial Revolution included its natural resources like coal, waterpower, and iron; transportation infrastructure like harbors, rivers, and overseas colonies; and the presence of all key factors of production - land, labor, capital, and entrepreneurs. The new factory system began to transform England's economy and society.

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    Agrevtoindrev 4 Factors

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    api-377235825
    129 views12 pages
    The Industrial Revolution began in England in the mid-1700s as innovations in agriculture increased food production and freed up a rural workforce. This allowed England to transition from a primarily agricultural economy to one based on manufactured goods in factories. Key factors that enabled England's Industrial Revolution included its natural resources like coal, waterpower, and iron; transportation infrastructure like harbors, rivers, and overseas colonies; and the presence of all key factors of production - land, labor, capital, and entrepreneurs. The new factory system began to transform England's economy and society.

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    The Industrial Revolution began in England in the mid-1700s as innovations in agriculture increased food production and freed up a rural workforce. This allowed England to transition from a primarily agricultural economy to one based on manufactured goods in factories. Key factors that enabled England's Industrial Revolution included its natural resources like coal, waterpower, and iron; transportation infrastructure like harbors, rivers, and overseas colonies; and the presence of all key factors of production - land, labor, capital, and entrepreneurs. The new factory system began to transform England's economy and society.

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    129 views12 pages

    Agrevtoindrev 4 Factors

    Uploaded by

    api-377235825
    The Industrial Revolution began in England in the mid-1700s as innovations in agriculture increased food production and freed up a rural workforce. This allowed England to transition from a primarily agricultural economy to one based on manufactured goods in factories. Key factors that enabled England's Industrial Revolution included its natural resources like coal, waterpower, and iron; transportation infrastructure like harbors, rivers, and overseas colonies; and the presence of all key factors of production - land, labor, capital, and entrepreneurs. The new factory system began to transform England's economy and society.

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    The

    Industrial
    Revolution
    Begins
    What is the economy?
    Economy - the way that people make and buy/obtain
    resources
    Examples
    Agricultural economy (people primarily farm crops to sell)
    Manufacturing economy (people primarily make things in factories
    to sell)
    Define: Industry
    What do you think industry is?

    What about industrialization?

    Industry - economic activity concerned with the


    processing of raw materials and manufacture of goods in
    factories

    Industrialization the transition from a primarily


    agricultural economy to one of manufactured goods

    Agricultural farming

    Manufactured made in factories


    Why do we call it a
    Revolution?

    It was a big
    CHANGE

    But first what was it a change from?


    Lets focus on one place, the first place
    to industrialize. England.
    Agricultural Revolution
    England, in the mid-1700s has primarily an agricultural
    economy
    Wealth is driven by access to land and farming

    Some innovators come up with some new inventions


    that make farming more productive (make more food in
    less space, with fewer workers)
    Wealthy people buy up all the land and create mega-farms
    (this is called the enclosure movement)
    Spreading seeds takes a long time, Jethro Tull invents the
    seed drill, which is a machine that plants seeds faster,
    growing into more crops.
    Crop rotation more crops!
    Selective breeding better farm animals
    Agricultural
    Revolution -
    Results
    More food, more people! Population rises.

    New machines save labor, fewer jobs in the countryside

    Farmers begin to move to cities for work

    Higher demand for goods like clothing, things people


    have to make.
    At this point, most things are made by piecework in peoples
    houses. Companies hire people to make things in their
    homes. This is known as the cottage industry.

    New inventions and machinery make factory production


    of goods easier. The migrated farmers begin to work in
    the factories The Industrial Revolution has begun!
    But, Why is England special?
    In particular, England had a lot of resources:
    Coal, water and iron
    Harbors and rivers
    Colonies overseas (additional natural resources)
    No wars on British soil

    Some other countries had some of these things, but none


    of them had all four Factors of Production
    Land
    Labor
    Wealth (Capital)
    Entrepreneurs
    Factor 1 - LAND

    Land provides raw


    materials, water
    power, and a place to
    build factories and
    mega farms.
    Factor 2 - Labor

    Labor = the people that do


    the work.
    Factor 3 Wealth/Capital
    The money necessary to provide
    wages for workers, materials,
    and machinery to run factories.
    Factor 4 Entrepreneur(s)
    The people that provide money
    (capital) to businesses who then
    use that money to buy materials,
    supplies, and equipment.
    NOW LETS BUILD A
    FACTORY!

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