History Assessment - what caused the industrial revolution?

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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

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