Shared Flashcard Set

Details

Chapter 3
Chapter 3
12
History
Not Applicable
05/18/2017

Additional History Flashcards

 


 

Cards

Term
How did the production of goods change through industrialisation?
Definition
Industries developed from small-scale production of goods in the domestic system, to large-scale production in factories.
Term
What is this transition refered to as?
Definition
The 'Industrial Revolution'
Term
Contrast to a revolution, how do some revisisonists characterise the change?
Definition
As a gradual change
Term
How did economic growth change in the 80's and 90's?
Definition
Sharp rise in both imports and exports; marked increase in economic activity. The annual growth of industrial output, near always at two per cent, now rose to between three or four per cent.
Term
Where was the biggest market for commodities?
Definition
London
Term
What are the preconditions for economic growth?
Definition

Development of trade, access to raw materials, improvements in agriculture, political stability, free movement of goods and invention.

Underlying these is a growth in population.

Term
Which developments had brought a growth in banking and finance?
Definition
Colonisation, exploration, shipbuilding and the discovery of new overseas markets.
Term
Who was the largest and most influential trading company in England; obtaining a trade monopoly in India and the Far East?
Definition
The East India Company; who traded cotton, sugar, tobacco and slaves in the West Indies.
Term
What did the rise in population cause?
Definition

Availability of a large labour force; an increased demand for food, clothing, housing and other commodities.

 

Term
What did the benefits of the rise in population invariably cause?
Definition
An increased production of manufactured goods, especially textiles, and stimulated agrocultural output.
Term
Why was the little hinderence to ventures?
Definition
Political stability; reletively liberal and democratic ideology and the ability for free movement.
Term
Why did Britain have optimal conditions for the IR?
Definition
Endowed with natural resources, which provided power to drive the industrial machines. Streams could be modified to harness water power; plentiful supplies of coal and iron ore. Navigable rivers which facilitated canals.
Supporting users have an ad free experience!