Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 3, Problem 8P
To determine
The difference in the production during Industrial revolution and Cottage industry system.
Introduction:
Industrial Revolution: Between the period of 18th and 19th Centuries, the agrarian and rural societies of Europe and United Kingdom transformed to industrial and urban economies.
Cottage Industry System: It is a small business run and operated at an individual’s home and is generally operated with very basic machinery.
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