How Did Industrialization Change The Latin American Economy Quizlet Chapter 12

Industrial Revolution, a term normally applied to the social and economic changes that mark the transition from a stable agricultural and commercial lodge to a modernistic industrial society relying on complex machinery rather than tools.
Dramatic changes in the social and economical construction took place as inventions and technological innovations created the manufacturing plant arrangement of large-scale machine production and greater economic specialization, and as the laboring population, formerly employed predominantly in agriculture (in which production had also increased as a event of technological improvements), increasingly gathered in keen urban factory centers

Furnishings

The Industrial Revolution has changed the face up of nations, giving rise to urban centers requiring vast municipal services.
It created a specialized and interdependent economic life and made the urban worker more completely dependent on the will of the employer than the rural worker had been
The motion-picture show to the right shows several major inventions that were created during the Industrial Revolution. Are any of them all the same used today?

As economic activities in many communities moved from agriculture to manufacturing, production shifted from its traditional locations in the dwelling and the small workshop to factories.
Large portions of the population relocated from the countryside to the towns and cities where manufacturing centers were found.
The overall corporeality of goods and services produced expanded dramatically, and the proportion of upper-case letter invested per worker grew.
New groups of investors, business concern people, and managers took fiscal risks and reaped slap-up rewards.

The existing system could not go on up with the demand of appurtenances
More consumers had sufficient income to afford exotic appurtenances such equally cotton material and red china
These were the rising "eye course"
Traders realized that if they could produce goods in greater quantity at a cheaper cost, they could detect more consumers and make a college profit.

Refers to the cycle of consumer demand, investment and innovations that drove the Industrial Revolution
Cycle works as follows: increased consumer demand prompts entrepreneurs to invest in machines to speed up production, and thereby increase turn a profit
Faster production in 1 area of manufacturing prompts investment in another area. (example?)
Instance: Faster methods of spinning cotton requires faster methods of weaving cloth
Profit from increase production used to invest further innovations and inventions
Multiplier effect caused Industrial Revolution to gather momentum and prompt new technologies
The cotton fiber manufacture becomes the largest unmarried employer of industrial labour, and cotton cloth became the most valued commodity in Britain's export trade.
In the realm of technical innovations and in the number of people employed, the combination of coal, iron, and steam had an even greater multiplier effect than the cotton industry.
Touch on would become visible in the 1830s and 1840s with the introduction of steam locomotion and the smash in railroad structure.