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15 Cards in this Set
- Front
- Back
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When was the first industrial revolution in Britain? |
It’s loosely attached to the late 18th and early 19th century |
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What are institutions? |
Written and unwritten rules that determine economically relevant behaviour. |
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When was then glorious revolution? |
1688 |
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What happened in bathe glorious revolution? |
The powers of the crown were restricted making it a constitutional monarchy. |
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What year was a patent taken out on bathe steam engine? |
1796 |
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What does a patent do? |
Guaranteed investors the legal rights over an idea or invention. |
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What are property rights? |
Gave legal ownership of land to individuals. |
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During 17th/18th century productivity in Britain increased by how much compared to France’s? |
Labour productivity increased by 4.7 in Britain compared to 2.4 in France. |
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When was the enclosure acts? |
17th century |
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Enclosed farms outperformed open farms by what percentage? |
14.7% according to Allen |
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What percentage of Britain’s land was considered prime agricultural space? |
47% |
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What percentage of the workforce were employed in farming by the 1800s? |
25% compared to 75% at the start of the agriculture revolution. |
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Wha |
19th century |
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When did the Suez Canal open? |
1868 |
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Wages rose to what in Ireland |
From 38% of US wages to 53% |
