USA HISTORY

Detailed explanation-1: -What Is Industrialization? Industrialization is the process of transforming the economy of a nation or region from a focus on agriculture to a reliance on manufacturing. Mechanized methods of mass production are an essential component of this transition.

Detailed explanation-2: -Industrialization is the process by which an economy moves from primarily agrarian production to mass-produced and technologically advanced goods and services. This phase is characterized by exponential leaps in productivity, shifts from rural to urban labor, and increased standards of living.

Detailed explanation-3: -The transition of a farm-based economy to an industrial system became apparent in Britain in 1760, which lasted until 1840. It was when English economist Arnold Toynbee first coined the term. The industrialization revolution gradually spread to other countries, including the United States, until it ended in the 1880s.

Detailed explanation-4: -Industrialization can lead to economic growth, which refers to increased production of goods and services. Because an industrial economy typically uses machines instead of manual processes, it may also have greater economies of scope.

Detailed explanation-5: -Industrialisation plays an important role in the promotion of trade. The advanced nations gain in trade than countries who are industrially backward. The underdeveloped countries export primary products and import industrial products. Agricultural products command lower prices and their demand is generally elastic.