Report about he economy

In this lesson we will talk about the historical change in the economy, first of all let we know what economy is.

Economy is the:

-Careful use of money and it’s a social establish that organize people production and consumption of commodity and utilities,

This is the economy in a simple definition.

Utilities getting from something necessary like food, clothes and refuge until luxury items like cars, yacht and swimming pool.

The agricultural revolution, the industrial revolution are branched from economy and they were changed with history in all over the world and we will talk about them separately

Agricultural revolution

At the beginning we will talk about how does the technology played an important part in developing the agricultural industry.

In the past people use to use animals or some woods to drilling the soil to put the grain to make it grow up, this method is old and traditional and it takes long time but nowadays there are a lot of machines and big trucks that scour the soil quickly and easy and its more comfortable for the framers, so this is an example of how the technology played an necessary role in developing the agricultural industry and this changes will make the economy grow up and income for the country will increase.

In Kuwait there is no Agricultural revolution

Like other countries because here in Kuwait we depend on oil in most of our economy.

The industrial revolution

This revolution started from England and the moved to the United States.

Industry changed the economy in a lot of ways like:

-new sources of power, in the past power means the muscle strength of human or animals but in 1765 English inventor called James watt invented a machine that produce a power 100 times more than animals power

-centralization of work in factories: steam powered machinery turn works from homes to factories it means centralized work place that housed the machines.

The industrial revolution increase the living standard in the countries