1. The Beginnings of Industrialization December 5, 2005

2. Agricultural revolution Abundant natural resources Political stability Factors of production Technological advances in the textile industry Entrepreneurs Building of factories Railroad boom Contributing Factors

3. Agricultural revolution Increased food supply led to increased population. Increased population increased demand for manufactured goods. Abundant natural resources Britain had the natural resources needed for industrialization. Coal, iron ore, rivers and harbors. Political stabilityEnabled Britain to devote resources to economic expansion. Factors of production Britain had all needed factors of production. Land, labor, capital, and entrepreneurial ability. Technological advances in the textile industry Increased the quality and speed of cotton cloth production. Increased profits and other industrial improvements. EntrepreneursProvided organizational and management skills Building of factories Allowed industries to move out of the home (cottage industry) and into central location Railroad boomProvided inexpensive ways to transport raw materials and manufactured products. Contributing Factors