Belgium lead Europe in adopting industrialization because it had rich deposits of iron and good water transport.
Before Industrial Revolution started, Belgium enjoyed a vibrant trading tradition for many years. Its textile production flourished in Flanders, its iron processing flourished in Walloon, and there was a large coal reserves in the south and east part of the country. With those available resources, the Industrial Revolution in Europe started in Belgium.
Industrialization is a process of developing machines for the production of goods. It requires naturals resources such as water, iron ore, rivers for transportation, and harbors.
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The Canadian Pacific Railway was created to connect upper and lower Canada provinces. The main reason for this is because in the Charlottetown conference, BC would only join if they could had a way to connect to the other provinces. Also, there was a scandal involved. John A. needed 10,000$ for his campaign, the creator of the railway promised him the money under one condition. If John A. got elected, he was to grant the railway proposal.
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The real-nominal principle suggest that the demand for money should increase as prices increase.
There are five fundamental standards of economics that specify the way our global handles money and decides which investments are worthwhile and which ones are not: possibility price, marginal precept, regulation of diminishing returns, principle of voluntary returns and real/nominal principle.
A basic guiding principle of macroeconomics and monetary economics is the difference among nominal variables and real variables. Nominal variables are expressed in modern-day market expenses. real variables are adjusted to reflect the changing purchasing strength of cash over time.
The definition of nominal is something that has nearly no price or some thing that exists in call only. An instance of nominal is while someone in a court docket case is minimal damages of best $1 because he turned into wronged however did not sincerely go through any damage. adjective.
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