Question

What was the impact of the steam revolution on the business world?

Answer 1

1. Mills which were powered by water and there is a constraint that these should be situated beside river. But with the Advent of steam engine Mills can now be located anywhere in the country.

2. Greatly improved the safety and efficiency of transportation. Capitalists were able to sell goods to ever expanding consumer base.

3. This has led to ever increase of wealth of investors. The money which they got through efficient trade was reinvested into the industry and this further multiplied their profits and expansion.