Question

how did Industrial Production give raise to capitalisation explain

Answer 1

Dear Student,

a. The 19 th century is marked by rapid socio , economic changes characterised by technological developments, inventions bringing about change from a domestic system to a factory system.
b. It is identified with the establishment with factories, industries , rise of industrial labour force. Later Factories, industries were set up on a large scale, there was a rise of industrial labor force.It brought about increased production of goods and services.
c. ​.In fact both the processes are inter related as industrial revolution brought about a major change in the economy and social structure.
d. Industrial revolution was marked by technological advancements, inventions that increased the overall preproduction of goods.It increased the efficiency of the production process.
e. It brought about standardisation in the process, supervision over the quality of the product, regulated labour.
f. Technological advancements and inventions brought about mass production and change in the domestic system to new factory system.
g. Factories, industries were set up on a large scale, there was a rise of industrial labor force.
h. It brought about private ownership of industries , of property as wealthier class pumped in their resources, established factories to increase production to meet the growing needs of the population.
i. Industrial process with factory system led to division of society into two classes the capitalist and the workers.The workers are those who sell their labor in return for fixed wages .
j. Capitalists brought about efficency in the production process and aimed to make profit from the produce.
k. It brought about incraesed competition among the private players.

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