Identify two major effects of new technology on business during the Industrial Revolution.(1 point)
Responses
Fewer goods were manufactured and sold.
Fewer goods were manufactured and sold.
Workers made more money and worked fewer hours.
Workers made more money and worked fewer hours.
Production became faster and less expensive.
Production became faster and less expensive.
The streets were less traveled and cleaner.
Production became faster and less expensive.
Workers made more money and worked fewer hours.
Production became faster and less expensive.
Workers made more money and worked fewer hours.
The correct answer is "Production became faster and less expensive." Here's how you could have arrived at this answer:
During the Industrial Revolution, new technologies such as the steam engine and machinery had a significant impact on business. These advancements revolutionized the production process and brought about two major effects:
1. Faster production: With the introduction of machines, production processes became much faster compared to manual labor. For example, steam-powered machines enabled manufacturers to increase their output and complete tasks more quickly. This led to the ability to produce goods at a much larger scale and meet the growing demands of the market.
2. Lower costs: The adoption of new technologies had the effect of reducing production costs. Machines replaced some of the manual labor, which meant that businesses could produce more goods with fewer workers. This resulted in cost savings on wages and increased efficiency in using resources. As a result, businesses were able to offer products at lower prices, making them more affordable and accessible to a wider range of consumers.
So, the major effects of new technology on business during the Industrial Revolution were faster production and lower costs.