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IR Econ Questions

IR and Economics Test

QuestionAnswer
How did the Agricultural Revolution help spark the Industrial Revolution? Since there were new inventions like enclosed farms, use of manure fertilizer, land drainage. Enclosure =>bigger farms run by smart farmers=>higher crop yield=>more food=>high population=>more workers move to cities to be factory workers.
Define and explain the economic, political, and social conditions necessary for an industrial revolution to occur. 1. Increased demand for global trade (economic) 2. Increasing population (social) 3. Increased flow of money (economic) 4. Experienced managers and entrepreneurs (social)
Why was Britain the first country to industrialize? 1. England had an upsurge in world trade due to internal transport system (ideal for moving goods to the market) 2. Pop. increased by 15% per decade (1700s) 3. Stock markets were world's largest/flexible 4. Western world's most experienced entrepreneurs
What types of problems did workers and cities face as a result of the Industrial Revolution? Two major problems: wealth inequality (a group became rich but most saw living conditions decline), working and living conditions were dirty, crowded, and unsafe for most people.
What types of reforms were made to remedy some of the problems caused by the Industrial Revolution? Starting in 1830-1850 in Britain: Increased pay, reduced working hours, factories and mines were made safer, child labor ended
How did the Industrial Revolution spark new ways of thinking about economic systems?
To what extent should a nation’s economic system consider the well-being of its citizens?
How does an economic system’s goals align with the 3 different underlying questions about a nation’s economy? Who should own factories? What is government’s role in regulating working conditions, wages and benefits, and product safety? Who should profit?
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