How did the steam engine impact the economy?
1. It reduced the demand for coal and other natural resources.
2. It created faster and more efficient movement of goods and people.
3. It led to more advanced farming techniques.
4. It led to factories moving away from cities.
5. It revolutionized industries and manufacturing processes.
6. It increased productivity and efficiency in factories and mines.
7. It facilitated the growth of the transportation industry, particularly railways.
8. It accelerated urbanization, as industrial centers and cities developed around steam-powered factories.
9. It created new job opportunities and spurred economic growth.
10. It contributed to the expansion of international trade and globalization, as steam-powered ships enabled faster and cheaper transportation of goods across long distances.