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which of the following describes how the industrial revolution affected economic practices?

The industrial revolution transformed economic practices by introducing new manufacturing processes, technologies, and machines, which led to an increase in production and efficiency. It also fostered the growth of urbanization and created new job opportunities. Additionally, it changed the way goods were produced and distributed, with the emergence of mass production and large-scale industrial enterprises. This period marked a shift from agrarian economies to industrial ones and allowed for the rise of capitalism and the development of modern economic systems.

Did you know?

Did you know that the industrial revolution had a profound impact on economic practices? During this era, which took place in the late 18th and early 19th centuries, there was a significant shift from predominantly agrarian societies to industrialized economies. This transition brought about several key changes. For instance, the industrial revolution led to the mechanization of production processes, resulting in increased productivity and the mass production of goods. Additionally, it brought about the growth of factories as the primary mode of production, leading to the rise of urbanization and the emergence of a working-class population. Furthermore, the industrial revolution introduced new systems of transportation, such as railways and steamships, facilitating the expansion of markets and globalization of trade. In summary, this influential period in history revolutionized economic practices by transforming societies, production methods, and trade networks.