how did Industrialist Revolution give rise to capitalism explain.
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Q. 8
How did the industrial revolution give rise to capitalism?
Answer
The industrial revolution is the phase of change in the manufacture of handmade goods and another economy to modern, industrialized and machine-made products.
Capitalism refers to the system in which the trade and other economic activities of a country are under the control of private individuals for profits.
1. The industrial revolution brought a global change.
2. There were two basic necessities such as the raw material that was required for the production and a place, that is, a market to sell the finished goods.
3. The nations who were the colonial powers started using the raw materials of the countries which they dominated.
4. They marketed their finished goods there and reaped huge profits.
Thus, the Industrial revolution paved the way for capitalism.