2021-02-23 15:14:27
The Industrial Revolution involved some major changes in economics
2021-02-23 15:26:20

The Industrial Revolution brought about many changes in terms of economic activity.    The good changes were that Industries grew and commerce and trade expanded.  Population grew and cities started to rise.  Living standards of the people improved due to the increase of wealth giving  them access to greater comforts.  There was also division of labor making production more efficient.  There were also bad changes brought by the Industrial Revolution such as the destruction of small businesses who could not compete with large industries.  It exploited the labor class, especially among women and children.  The concentration of wealth was in the hands of the few. Unemployment came about due to the closure of small businesses.  Finally there was conflict between capitalist and the labor force.