The main reasons for America's economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.
Capital resources are things that make work easier. Examples of capital resource are machines, factories, tools, and buildings. Whenever a company buys one of these things, they are INVESTING in their business.
The textile industry was also the first to use modern production methods. The Industrial Revolution began in Great Britain, and many of the technological innovations were of British origin.
The Industrial Revolution changed the way things were made as new machines invented in the 1700s and 1800s meant it was possible to mass produce goods in factories. Starting in Britain and spreading through Europe and North America, a period of rapid social and economic change began, with widespread URBANIZATION.
The Industrial Revolution marked a period of development in the latter half of the 18th century that transformed largely rural, agrarian societies in Europe and America into industrialized, urban ones.
Goods that had once been painstakingly crafted by hand started to be produced in mass quantities by machines in factories, thanks to the introduction of new machines and techniques in textiles, iron making and other industries.
Fueled by the game-changing use of steam power, the Industrial Revolution began in Britain and spread to the rest of the world, including the United States, by the 1830s and ‘40s. Modern historians often refer to this period as the First Industrial Revolution, to set it apart from a second period of industrialization that took place from the late 19th to early 20th centuries and saw rapid advances in the steel, electric and automobile industries.
The Beginning of Industrialization in Britain
The Industrial Revolution saw a rapid development of industry take place in Britain in the late 18th and early 19th centuries, soon spreading to Western Europe and North America. New and improved large-scale production methods and machinery marked the beginnings of Industrialization. Many different factors contributed to the rise of the Industrial Revolution in Britain. The new inventions, access to raw materials, trade routes and partners, social changes, and a stable government all paved the way for Britain to become an industry-driven country. Britain started the revolution that would develop the way in which we live today.
Britain had access to cotton from its colonies and could use slaves to collect it. As technology improved, cotton picking became easier and was a booming industry. Coal, iron, lead, copper, tin, limestone, and water power were also readily available for the British to use for their industrial advancement.1 In conjunction with the navigable waterways in Britain, these ships could transport much larger amounts of coal than land modes. This coal was widely available in 18th-Century Britain. Also, coal provided much more energy potential than wood, which was the main prior producer of energy.2 The city of Bristol saw massive increases in coal production over a course of 120+ years, beginning with 90,000 tons produced in 1700, all the way to a production of 600,000 tons by 1830. Iron was the preferred metal for tools and equipment until steel was used. The iron and steel factories caused dense fogs of soot and noxious waste gases, which then caused diseases. The burning of coal also caused severe air pollution.
According to Eric Hobsbawm, “transportation and communication were comparatively easy and cheap, since no part of Britain is more than seventy miles away from the sea, and even less from some navigable waterway.” This was true in eighteenth century Britain. Canals were built in the rivers of Britain from 1760-1800 to allow ships to transport goods and for a quicker rate. Britain had access to local and international economies because of their powerful Navy and other ships.3 Railroads were also built to allow more efficient trade and transportation of goods. The first public railway opened in 1825 and ran from Stockton to Darlington. Built by George Stephenson, the Newcastle based father of the railways, this was the precursor of the Liverpool to Manchester railway and ultimately the national rail network.(4) The British government allowed foreign trade and domestic to occur to expand the economy and grow industries.
A. They developed an accurate 365-day calendar. does not accurately describe the civilization of the Maya because the Mayan calendar is different from the other calendars.
