There was enough worker to support the factory system and there were new ideas and inventions. The government is a pro-business. Great Britain has many natural resources available to them at home as well as in colonies that help plant production growth. Because of the Agricultural Revolution, many people are looking for work and coming to towns to work in factories. From the Agricultural Revolution came many new ideas and discoveries that helped the industrial process.
Entrepreneurial education is considered central to the economic development of nations (Kabongo & Okpara, 2010). Entrepreneurship education has to increase entrepreneurial self-efficacy, self-employment, and risk-taking attitude of the entrepreneur (Cheng & Chan, 2009). Entrepreneurship education creates enormous business opportunities and trains people with innovative enterprise skills to grasp the opportunities for starting new entrepreneurial activities (Cheng & Chan, 2009). Entrepreneurship education is one way of addressing poverty reduction, as there is strong empirical evidence suggesting that economic growth over time is necessary for poverty reduction. Entrepreneurship boosts economic growth, enhances educational attainment and increases the rate of economic growth (Mitra & Abubakar, 2011).
However, another aspect believes that entrepreneurship has a positive effect on the creation of job opportunities, which thus decreases unemployment rate. Entrepreneurship is also able to improve an economy through the actual products, services and technology that is introduces into a market. These new ideas boost economic growth. Innovation also creates a sense of competition within the market, which allows for the entrepreneurs involved to become creative under pressure. Competition is necessary in order to encourage either existing, or new entrepreneurs to constantly grow and improve, which once again improves the economic situation.
Immigrants have made a tremendous contribution to our modern society. Their discoveries are taught today and they are very influential to our culture. They have created many jobs, as well as helped the economy become more eco- friendly. Their inventions improved technology, allowing it to be faster and more powerful. Immigrants have greatly contributed to education, the economy, and modern technology in America today.
The industrial revolution is one of the biggest and positive achievement that this world has experienced. Despite the challenges being faced from the move, a human being has seen more achievements compared to challenges. The industrial revolution led to the mechanization of many tools that were used in doing work (Stearns 61). Moreover, those regions with industries grew up to become urban centers as compared to the earlier period when the entire land was a rural area. This period marked the change to the powered and special purpose machines, factories and the mass production of goods.
The next positive aspect which is taken into consideration is that the developing countries now can receive sources of capital, new technologies from developed countries, which is very essential for the growth of a country. And in return, the developing countries let the developed countries’ companies do business in their countries. For instance, you can see McDonald’s store in almost every countries. In general, globalization has benefited both developing and developed nations, and became one of the most important factors that affect a country’s