History Assessment - what caused the industrial revolution?
- Created by: Helena milton
- Created on: 23-04-14 16:27
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- History Assessment - what caused the industrial revolution?
- Capital
- Every merchant had to give some money to the government. This was used to pay for new businesses and factories.
- Government
- The government paid out on the capital and funded new products and ensured the best price for the merchants.
- Banks
- Many banks were created in this time, Before it had been very hard to borrow money but now people could borrow money to invest.
- Entrepreneurs
- People were encouraged and inclined to invest in Ideas and inventions
- Inventions
- There were more inventions that needed to be made in factories
- The steam engine helped power factories 24/7
- Population
- As the population grew there were more people to work in manufactoring
- Raw materials
- Britain was rich in minerals such as Iron and coal. These were useful to fuel the factories
- Empire
- As the empire grew, so did our supplies of raw materials and the people we could employ to make produce and to buy products
- Improvement in farming
- People lost their jobs as farms became more efficient and needed less of a workforce. The people who lost their jobs went to work in the factories
- Capital
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