A brief history of Economic development - The Industrial revolution begins in England

3 important questions on A brief history of Economic development - The Industrial revolution begins in England

What was needed for the shift from rural to urban? (2)

- New technologies (steam engine, mechanised spinning wheel, weaving, large scaled steel production.
- Complex economic interactions

What was necessary for a world supply system? (5)

- Transport - new ports and global shipping carried out exports to trade for primary goods needed for industrial production.
- Markets
- Insurance
- Finance
- Property rights

What happened between 1600-1700?

- Agricultural productivity started to rise: more urbanisation, more trade, a more sophisticated market economy
- Scientific revolution (1500-1600): Isaac newton, invention of the steam engine, factories with massive coal burning + new forms of transport.

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