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what is needed for industrialization?
capital - britain had capital, money and goods, ready to invest in new industries. the money came from wealthy landowners and merchants who had grown rich through trade.
entrepreneurs - britain was home to energetic and daring entrepreneurs, people who organized and managed businesses. the opportunity to make great profits spurred these entrepreneurs to build factories, work out efficient ways of producing goods, and search for new markets.
land - britain was rich in the natural resources needed for the early phases of industrialization; coal and iron ore. from its colonies britain imported resources, particularly cotton to use in making textiles.
labor - britain had a large number of able workers. this was because its birth rate was increasing and its death rate was declining due to better foods and hygiene. also, many small farmers were being forced off their lands and were looking for work.
stable government - the british had over a century of relative peace at home. the british government did much to boost the entrepreneurial spirit. it passed laws that protected businesses and helped them to expand.
britain possessed these five factors of production which are needed to enable the industrialization of society. britain possessed two other advantages: a good transportation system, and available markets. as an island nation, britain had many fine harbors as well as an extensive canal system. it was much cheaper to transport heavy goods by water than by land. the nation’s large fleet of merchant ships made it easy to carry raw materials to factories and goods to market. britain and its colonies overseas provided a good market for the sale of manufactured goods. the businesses expanded and new jobs were created, more people had money to spend on factory - made products.
the production system
in the cottage system, manufacturers provided raw materials to farm families. the families earned money by doing such jobs as spinning wool or weaving cloth in their homes. the merchant, or entrepreneur, directed the entire process. entrepreneurs brought raw materials, rented equipment, contracted workers for each task, and arranged for the sale of the final product. eventually, the cottage system weakened as some entrepreneurs began to bring workers together in large shops to carry out work previously done at home. this system became known as the factory system.
The content is about the factors needed for industrialization (capital, entrepreneurs, land, labor, stable government, plus transportation and markets) and the shift from cottage to factory system. This relates to the study of how societies industrialize, which falls under History (a subfield of Social Science) as it's analyzing historical industrialization in Britain.
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The subfield is History (under Social Science).