Final answer:
The presence of large deposits of iron is one economic factor that helped support industrialization in England, crucial for building machinery and transforming into steel, significantly influencing the country's industrial era.
Step-by-step explanation:
One economic factor that supported industrialization in England was the presence of large deposits of iron. This natural resource was critical for developing the machinery and infrastructure necessary for the industrial era. Not only did it provide the material for construction and manufacturing, but it also became an essential component in smelting into steel, which was used throughout various industries. This, combined with the other factors of production including land, labor, capital, and entrepreneurship, made England a leader in the Industrial Revolution.
England's economic prosperity was further bolstered by its stable government and the Bank of England, which supported enterprise growth with needed capital. Additionally, the country's robust agricultural output laid a foundation for industrial growth, as it released labor from the countryside and created a market for industrial goods. England's colonies also provided both a market for manufactured goods and a source of raw materials, fueling the economy and fostering further industrialization.