why IR started Flashcards
(12 cards)
What was the importance of colonies?
Colonies provided a source of raw materials for manufacturing and served as markets for selling manufactured goods. Foreign trade increased, making Britain wealthier. Slaves were sourced from colonies, supporting economic growth.
How did the slave trade contribute to Britain’s wealth in the 18th century?
Much of Britain’s wealth came from the slave trade. Profits from slavery helped finance the Industrial Revolution.
What was the shift in trade focus for Britain during the 18th century?
Britain shifted trade focus from Europe to its colonies in the West Indies and North America.
What is the Transatlantic (Triangular) Slave Trade?
This trade system became known as the Transatlantic (Triangular) Slave Trade.
What was the impact of a growing population during industrial growth?
More people meant a larger workforce and higher demand for goods.
How did colonies contribute to industrial growth?
Colonies provided raw materials and markets for manufactured goods.
What role did a strong navy play in industrial growth?
A strong navy protected trade routes and merchant ships.
Why was political stability important for economic growth?
Political stability meant no major internal conflicts, allowing focus on economic growth.
How did access to capital influence industrial growth?
Lots of money allowed businessmen to invest in factories, machines, and new ideas.
What was the role of the slave trade in industrial growth?
Profits from the slave trade helped finance industrial growth.
Why was a plentiful supply of coal and iron crucial for industrial growth?
Coal powered steam engines, and iron was used to build machines and factories, boosting production and exports.
