Industrial Revolution

Distribution

• takes on the risk of running a business
• transporting product
• natural resources
• money and assets

All of the following factors made Great Britain the birthplace of the Industrial Revolution EXCEPT?

• an abundance of natural resources
• a large trainable workforce
• being the center of European transportation
• a colonial empire to serve their market economy 

Technology can be best described as

• large mechanical devices
• computers and microchips
• anything used to make work easier
• motivation to create new items

Capital 

• takes on the risk of running a business
• transporting product
• natural resources
• money and assets

The Industrial Revolution required incentive for people to take risks to start businesses and create technology....incentive is

• motivation
• intelligence
• will power
• gambling

Entrepreneur

• takes on the risk of running a business
• transporting product
• work
• money and assets

Which of the following is the correct order in which the cotton industry progressed?

• Spinning Jenny, Sewing Machines, Powered Looms, Water Wheel Factories 
• Cottage Industry, Spinning Jenny, Water Wheel Factories, Steam Powered Looms
• Looms in the home, Cottage Industry, Steam Powered Looms, Sewing Machines
• Needle and thread, Cottage Industry, Sewing Machines, Steam Powered Looms

In addition to supply and demand, businesses must make difficult decisions based on all of the following EXCEPT

• distribution of materials
• paying taxes to the government
• how much and when to produce products
• investing monies to raise capital

Raw materials

• takes on the risk of running a business
• transporting product
• natural resources
• money and assets

Labor

• takes on the risk of running a business
• work
• natural resources
• money and assets