in the context of the industrial revolution answer the following a) what effect did the industrial revolution have on the domestic system of production. b) how did it create a wide gap between the rich and poor c) what effect did it have on trade and commerce.
Answers
Explanation:
a)The Industrial Revolution led to the destruction of the domestic system of production. Workers went to work in factories and machine-made goods were manufactured on a large scale. The work was divided between people according to their ability and capability.
b)Financially, industrialization results in aIndustrial Revolution led to large scale productions which led to the expansion of trade and commerce. Surplus goods were sold to other countries. Increasing profits made the industrialized nations rich and prosperous. Trade also expanded because steamships were being used, which were superior to the earlier ships. wide gap between the rich and poor due to a division of labor and capital. ... Because of industrialization, there is a significant separation of labor and capital. Those who own the means of production become disproportionately rich, resulting in high-income inequality
c)