Final answer:
In 1750, the world was primarily agrarian with extended-family groups working as the main units of production and living. The development of industrialism in Britain later led to the transformation of this system, giving rise to an economy centered around factories and wage labor. Capitalism spurred urban growth and specialized trades, paving the way for the industrial revolution which reshaped European and global economies.
Step-by-step explanation:
Description of the World in 1750
In 1750, the world was predominantly agrarian, with communities largely based on extended-family groups providing for their own needs through farming and local crafts. This period was before the global shift towards an industrial economy, which began in the 1700s in Britain with the development of new systems of production, such as the use of wage labor, machines, and chemical processes to mass-produce commodities.
This shifted the dynamics of societies from self-sufficiency to wage-dependent systems in factory settings.
Meanwhile, European societies, including Britain, experienced significant changes through the ideas of capitalism, as elucidated by Adam Smith, leading to increased specialization in trades and population growth in urban areas. Artisans began producing goods for wider markets, leading to the establishment of a prototype for the later industrial revolution.
By the 1800s, the industrial revolution had fully gripped the European economy, leading to a transformation in the production and distribution of goods, with England becoming heavily industrialized and exporting to a global market. This model expanded across Western Europe, fundamentally altering the economic and social landscapes of these societies and influencing global power distributions and relations.