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Economic Changes

  • As economic activities in many communities moved from agriculture to manufacturing, production shifted from its traditional locations in the home 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 amount of goods and services produced expanded dramatically, and the proportion of capital invested per worker grew.
  • New groups of investors, businesspeople, and managers took financial risks and reaped great rewards.