Final answer:
The supply of investment money in Great Britain was critical in fostering industry during the eighteenth century due to profits from global trade, notably the slave trade and commerce with South Asia, and the spread of the joint-stock company model. Natural resources and innovations in technology also played a vital role. The growth in population and consumer markets, both domestic and colonial, further contributed to the industrial surge.
Step-by-step explanation:
The supply of investment money was a significant factor in the development of British industry in the eighteenth century. This capital was accumulated through various means, including profits from the slave trade and sugar cultivation, as well as from successful enterprises such as the East India Company, which had dealings in tea and textiles.
The implementation of the joint-stock company model was instrumental in pooling resources and spreading financial risk, which in turn encouraged greater investment in industrial ventures, like factories. Domestic population growth and international trade also created a demand for new goods. Resources such as capital and currency provided by institutions like the Bank of England were pivotal for paying wages and spurring economic growth.
Additionally, natural resources like coal and iron ore facilitated the country's leap into industrialization, being essential materials for the burgeoning industries. The transformation from manual labour to mechanization, spurred by innovations such as the Spinning Jenny and the improved steam engine, vastly enhanced productivity and reduced costs, leading to changes in the British economy and society.
The increased population working for wages created a new consumer market, both domestically and in the colonies, further propelling industrialization. These factors, combined with significant agricultural improvements, helped establish Britain as a leader in the Industrial Revolution.