Asked by libby
What was a key factor contributing to the economic growth brought about by the factory system during the industrial revolution?(1 point)
Decreased demand for goods in domestic and international markets.
Limited access to raw materials and resources.
Introduction of new technologies and machinery like interchangeable parts and the power loom.
Lack of investment opportunities in industrial sectors.
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Answered by
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Introduction of new technologies and machinery like interchangeable parts and the power loom.
These innovations increased productivity, lowered production costs, and enabled mass production, driving economic growth.
These innovations increased productivity, lowered production costs, and enabled mass production, driving economic growth.
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