What were the economic impacts of the Industrial Revolution?
The Industrial Revolution significantly transformed economies by shifting from agrarian to industrial production, increasing productivity.
How did it affect employment?
It created new job opportunities in factories but also led to harsh working conditions and urbanization.
What about the impact on trade?
Trade expanded due to increased production and the development of transportation networks, facilitating global commerce.
Did it lead to any economic inequalities?
Yes, it contributed to economic inequalities, as wealth concentrated among industrialists while many workers faced poverty.
What were some long-term effects on the economy?
Long-term effects included the rise of capitalism, changes in labor laws, and the establishment of consumer culture.
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