Industrialization is the process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines. Characteristics of industrialization include economic growth, the more efficient division of labor, and the use of technological innovation to solve problems as opposed to dependency on conditions outside of human control.
Industrialization is a transformation away from an agricultural- or resource-based economy, toward an economy based on mass manufacturing.
Industrialization is usually associated with increases in total income and living standards in a society.
Early industrialization occurred in Europe and North America during the 18th and 19th centuries, and later in other parts of the world.
Numerous strategies for industrialization have been pursued in different countries over time, with varying levels of success.
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‘Precious Metals
he discovery of large quantities of gold and silver in the New World made precious metals a key export from New Spain. This changed the history of the world economy. For instance, when precious metals entered Spain, this inflow drove up the Spanish price level and caused a balance of payments deficit.
Answer:
The U.S. claim was based on the explorations of Lewis and Clark and on the establishment of trading posts set up by John Jacob Astor's Pacific Fur Company, such as Astoria at the mouth of the Columbia River. Great Britain based its claim, in part, on James Cook's exploration of the Columbia River.
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