A. Before the late 18th century, the global economy was fundamentally different from what we know today. Most societies were agrarian, meaning their economies were based on farming. The vast majority of people lived in rural areas, producing food and goods for their own families and local communities. Production was small-scale and was typically done in people's homes, a system known as the 'cottage industry'. The energy sources were natural, relying on human and animal power, or the wind and water. This structure meant that economies were largely local, and long-distance trade was a luxury reserved for a few expensive goods. B. This entire system began to change with the start of the Industrial Revolution in Great Britain. This period was defined by the invention of new machines and the discovery of new power sources, most notably the steam engine. These innovations made it possible to produce goods on a much larger scale, leading to the rise of the factory system. Instead of working at home, large numbers of people began to work together in a single building—a factory. This shift allowed for the mass production of textiles, iron, and other goods at a speed and volume that was pr…
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