Late First-Wave Industrialization in Britain and Second-Wave Industrialization in Europe

question 2

Multiple Choice

Late first-wave industrialization in Britain and second-wave industrialization in Europe as a whole depended very much on steam power. This biased the location of textile and iron industries to:

• A) existing urban centres
• B) near rivers to exploit the water
• C) coalfields
• D) areas of proto-industrialization

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Definitions:

Public's Desire

The general or collective wants, needs, and preferences of the population, which can influence market demand and public policy.

Bank Panics

Situations in which a large number of bank customers withdraw their deposits simultaneously due to fears that the bank will become insolvent.

Deposits Reserve

Funds that banks are required to hold in reserve, either in their vaults or at a central bank, as a safeguard against bank runs and to ensure liquidity.

Greenbacks

A term historically used to refer to paper currency issued by the United States during the Civil War, recognized by their green coloring.