Great britain unified nation, began building empire late 1600s, oversea empire north merican , Germany: not unified, several large german principalities, lack of unification impeded business development. North america: british colonies, american revolution 1776, british business and gov had huge influence. The economic setting (these are the themes of industrial revolution they are better discussed n lec notes for each of the above countries) All of the above countries were commercial economies not subsistence ones. Elements characterized these commercial economies: commercial agriculture and regional specialization. Trade: regional specialization in trade, domestic commerce and foreign trade expanded rapidly, china and japan were different didn"t like foreign trade www. uofgexamnetwork. com. Growth of cities: urbanization in all countries. All played a really large role in how business developed. Stabilization of all three increased living standards and growth. Tokugawa merchants: merchant houses, governed by daimyo, ex mitsui, static view of society o, but smaller trade was still very important.