... transition to special-purpose machinery, factories, and mass production, which simplified and divided the production process. This produced dramatic increases in the volume and variety of manufactured goods, and changes in the dynamics of society. In the process of industrialization, capitalism took a new form. Preindustrial era, capitalism was an economic system which private individuals own ... /exchange in a free market to produce a profit. As production shifted from handicraft to mechanized work, capitalist accessed financing in order to purchase machinery and factories because machi...

• Word Count: 1625
• Approx Pages: 7
• Has Bibliography
• Grade Level: Graduate

... a period of very slow changes in technologies and commerce. People preferred to live in rural areas and were dependent on the cottage industry, where farmers worked their lands and produced goods for their own homes. However, the latter was not sufficient and therefore they sought out another source which was the domestic industry. Merchants brought raw materials to the farmers who ... ...

• Word Count: 724
• Approx Pages: 3
• Grade Level: Graduate