Introduction Flashcards
Start of the Industrial Revolution
1760
Agricultural Revolution
Changes in the methods of farming and stock breeding led to a significant increase in food production, and hence population growth and economic expansion.
Commercial Revolution
Development of new network of global trade routes and early consumer society for non-essential luxury products. System of exchange rates established by Bank of Amsterdam in 1609, and “Bills of Exchange” as a financial instrument for long-distance trade.
Scientific Revolution
Observing and experimenting gained importance — rational, material explanations. Science as the basis for technical innovations of the Agricultural and Industrial Revolution.
Factors for Industrialisation
Workforce, natural resources, technology, capital, market, and transport infrastructure.