Which most accurately describe the role colonies played within the global economy? (Select all that apply.)
Some colonies were mined for their natural resources to provide materials needed for manufactured goods.
Some colonies used laissez-faire economics to promote the interest of imperial nations.
Many colonies were established as one-crop economies to provide cash crops to imperialist nations.
Many colonies established factories to ship finished goods to imperialist nations.
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larger fields which wealthy landowners enclosed with fences or hedges; it made it so they could cultivate larger fields and use new seeding and harvesting methods. landowners experimented to discover more productive farming methods to boost crop fields
crop rotation
important because different crops being grown would allow for the land to lose and gain nutrients
industrialization
the process of developing machine production of goods
factors of production
LAND LABOR CAPITAL
1: technology (gov't encouraged)
2: capital ($)
3: labor
4: natural resources (land)
5: markets (places to sell)
6: efficient transportation
7: favorable social & political climate
factory
large buildings that wealthy textile merchants set up. they would hold spinning machines
entrepreneur
a person who organizes, manages, and takes risks of a business
urbanization
city building and movement of people to cities
middle class
a social class in Britain made up of wealthy people like skilled workers, professionals, businesspeople, and wealthy farmers
they grew wealthier than aristocrats and landowners ; landowners looked down on them and 1800 rich entrepreneurs were considered the social equals of the lords of the countryside
corporation
a business owned by stockholders who share in its profits but are not personally responsible for its debts
laissez-faire
the economic policy of letting owners of industry and business set working conditions without interference; it favors a free market unregulated by the gov't; comes from "let people do as they please"
larger fields which wealthy landowners enclosed with fences or hedges; it made it so they could cultivate larger fields and use new seeding and harvesting methods. landowners experimented to discover more productive farming methods to boost crop fields
crop rotation
important because different crops being grown would allow for the land to lose and gain nutrients
industrialization
the process of developing machine production of goods
factors of production
LAND LABOR CAPITAL
1: technology (gov't encouraged)
2: capital ($)
3: labor
4: natural resources (land)
5: markets (places to sell)
6: efficient transportation
7: favorable social & political climate
factory
large buildings that wealthy textile merchants set up. they would hold spinning machines
entrepreneur
a person who organizes, manages, and takes risks of a business
urbanization
city building and movement of people to cities
middle class
a social class in Britain made up of wealthy people like skilled workers, professionals, businesspeople, and wealthy farmers
they grew wealthier than aristocrats and landowners ; landowners looked down on them and 1800 rich entrepreneurs were considered the social equals of the lords of the countryside
corporation
a business owned by stockholders who share in its profits but are not personally responsible for its debts
laissez-faire
the economic policy of letting owners of industry and business set working conditions without interference; it favors a free market unregulated by the gov't; comes from "let people do as they please"
PortiaHowe18:
I dont understand any of this. simplify?
just make each para into small parts
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