This article is related to the topic of absolute advantage and technological change because of the new technological development that increased the production efficiency of Britain. This allowed lesser resources such as labour and natural resources in order to produce greater quantity of agricultural products.
The population of Britain raised significantly after 1750 due to the agricultural revolution that produced more food, able to feed extra population. The population grew 16.6m in 1850.
Increase of population
New Tech, New improvement
he research is based on the concept of absolute advantage that states that the ability of a party to produce a greater quantity of products or goods using fewer resources than another. The 3 major changes like new machinery, the enclosure of farms, and crop rotation all contributed to the agriculture sector. These changes could allow the production efficiency to be shifted outwards, resulting in growth of the economy. As more machinery being invested as capital resources, there would be a decrease in consumption goods and services as a result of opportunity cost. Since agricultural market in Britain was perfectly competitive because it involved in buyers and sellers. The sellers who had the least power to influence the price of the goods because there were a large number of sellers/producers. The population of Britain grew more than 16.6million as a result of agricultural revolution. This could lead to a greater creation and innovation when it comes to the business, stimulates investments, and contributes to the country's GDP. With the replacement of technology over labours, fewer labours were in the workforce with only 22% by 1850, opportunity cost for investing in capitals. However, workers were able to produce more food, showing an improvement in labour productivity. This is again related to the topic of absolute advantage, fewer labour resources to produce a greater quantity of food. In conclusion, agricultural revolution in Britain brought a huge change to the world and led to industrial revolution. The main concepts would be absolute advantage and technological change.
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Agricultural Revolution
The invention of Worlidge Drill and crop rotation allowed more arable lands being used effectively and conserved the farms in a good conditions. Therefore, an increase in production effeciency in agriculture output shows the success of technological change.
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Agriculture sector in Britain