Why is the scientific revolution an insufficient explanation for the Industrial Revolution?The scientific revolution was stopped by religious fanatics.Scientific discovery is unrelated to economic progress.The early advances of the Industrial Revolution were not reliant on scientific breakthroughs.The scientific revolution, while a step forward, still got most things wrong. Why did the Industrial Revolution spread to Europe and the colonies descended from it?O Other countries saw the technological advancements and adopted them immediately.O Europe had a comparative advantage over other places in the world when it came to industrialization.O Continued innovation lowered the cost of machines below the wage levels in other countries.O Wages began to fall in Europe and the colonies, incentivizing the adoption of industrial methods.

Why is the scientific revolution an insufficient explanation for the Industrial Revolution? The scientific revolution was stopped by religious fanatics. Scientific discovery is unrelated to economic progress. O The early advances of the Industrial Revolution were not reliant on scientific breakthroughs. O The scientific revolution, while a step forward, still got most things wrong.

Why is the scientific revolution an insufficient explanation for the Industrial Revolution? The scientific revolution was stopped by religious fanatics. Scientific discovery is unrelated to economic progress. O The early advances of the Industrial Revolution were not reliant on scientific breakthroughs. O The scientific revolution, while a step forward, still got most things wrong.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 20SQ

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In 1776, Adam Smith ([1776] 1936) published his treatise, An Inquiry into Nature and Causes of the Wealth of Nations , which was taken by many to be a theory of economic growth. Smith, however, was clearly concerned with economic development. The classical school of economic thought, predominantly modeled after Smith, is largely geared toward understanding and explaining economic development. Smith presented a supply driven model of growth, where output was related to labor, land, and capital. Thus, economic growth, which is the increase in output, was related to populationgrowth, investment, land growth, and increases in productivity. According to Smith, society was dependent on the economy’s ability to sustain its increasing workforce. Investment was dependent on the rate of savings. Land growth was dependent on the ability to acquire more land (through conquest) or on the increase in the productivity of existing land. He also believed in the division or specialization of labor as a…