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Industrial Rev Test

IR & Economics Test

QuestionAnswer
Agricultural revolution A new era of agriculture in which farming became more efficient and new inventions helped achieve that in the 1700s.
Enclosure One of the products of the agricultural revolution. Enclosure was important because it formed bigger farms run by more knowledgeable farmers allowing high crop yield, more food, higher population, and more workers moving to cities to be factory workers.
Mercantilism A mother country that has colonies that provide a market to sell things in and raw materials for it. Colonies can only trade with the mother country. Britain had many colonies around the world which made it easy to sell their products (beginning the IR).
Globalization (before 1900) People/products/ideas move across the world.
Capital Britain started the IR because there was an increase flow of money due to the English stock markets being the world's largest and most flexible.
Entrepreneurial spirit Britain had the most experienced entrepreneurs in the western world, with more passionate people seeking innovation, thus leading them to start the IR.
Commodities and raw materials Commodities are raw materials used to make other products. Britain had the commodities coal and cotton which was used to form steam and textile industries.
Urbanization Britain's population increased by 15% each decade in the 18th century (1700s) that led to an increase in the demand and supply of goods.
Class conflict Entrepreneurs and wealthy gained a lot from the IR, but as working conditions declined, the working class were working in dangerous conditions with little pay and high abuse. Workers formed unions and fight to improve pay, hours, and safety.
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