ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Mechanization is the process of changing from working largely or exclusively by hand or with animals to doing that work with machinery.

Detailed explanation-2: -It includes three main power sources: human, animal and mechanical. Based on these three power sources, the technolo-gical levels of mechanization have been broadly classified as hand-tool technology, animal draught technology and mechanical power technology.

Detailed explanation-3: -By reducing labor costs, such machines not only reduced manufacturing costs but lowered prices manufacturers charged consumers. In short, machine production created a growing abundance of products at cheaper prices. Mechanization also had less desirable effects. For one, machines changed the way people worked.

Detailed explanation-4: -First Industrial Revolution: Coal in 1765. Second Industrial Revolution: Gas in 1870. Third Industrial Revolution: Electronics and Nuclear in 1969. Fourth Industrial Revolution: Internet and Renewable Energy in 2000.