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Economic changes during the Industrial Revolution
4
St. George's
Secondary School
1°1
History|2021
Economic changes during the Industrial Revolution
Industrial Revolution
-Factory system was invented
-Technological inventions
-Social and economic changes
-Modern industrial society
Industrial Revolution
Effects
-The industrial Revolution has changed the face of nations, giving rise to urban centers requiring large municipal services.
Effects
-It created a specialized and independent economic life and made the urban worker more dependent on the will of the employer than the rural worker had been
Economic Changes
-The overall amount of goods and services produced expanded
Economic Changes
-Large portions of the population relocated
Multiplier Effects
-Demands increased
-Mass production was necessary
-Machines were necessary
-Money was needed
-Investments
Multiplier Effects
Multiplier Effect
- Further innovations and inventions and new technologies
- Cotton industry was the largest employer.