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technological change, whereby work is increasingly done by machines rather than by hand; the supplementing or replacement of human and animal power by inanimate sources of energy, such as coal and oil; the freeing of the laborer from feudal and customary ties and obligations, and the consequent creation of a free market in labor; the concentration of workers in single, comprehensive enterprises (the factory system); and a pivotal role for a specific social type, the entrepreneur.

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12y ago
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4d ago

The core components of the industrial system include production, distribution, and consumption of goods and services. This system also involves factors such as supply chains, technology, labor, and regulations to ensure efficient operation and economic growth.

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Q: What are the core components of the industrial system?
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