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Economic Changes Resulting from the Industrial Revolution
The Role of Firms in Fostering Technological Progress
Decline of Agriculture's Economic Dominance
A key structural economic change that accompanied the rise of capitalism was the decline of agriculture's dominance. This occurred through two primary mechanisms. First, while agricultural output itself grew, the output from manufacturing and later the service sector grew at a much faster rate, causing them to constitute a larger share of the total economy. Second, this led to a corresponding shift in the labor force, where the proportion of the population employed in agriculture fell, while the shares working in manufacturing and services increased.
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CORE Econ
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
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Industrial Revolution Challenged Malthus's Claims
Which of the following economic changes resulted from the Industrial Revolution?
How did the Industrial Revolution impact the labor market?
Which of the following best describes the impact of the Industrial Revolution on the production process?
What was one significant social change that resulted from the Industrial Revolution?
Decline of Agriculture's Economic Dominance
Nassau Senior's Malthusian View of the 1848 Irish Famine
Initial Increase in US Working Hours During Industrialization
How did the rise of firms influence technological progress during the development of capitalism?
Which of the following statements best explains the relationship between technological progress and the rise of firms during the development of capitalism?
Why were firms more likely than small-scale family businesses to invest in new technologies during the development of capitalism?
What role did competition among firms play in technological progress during the development of capitalism?
Decline of Agriculture's Economic Dominance
Role of Firms and Markets in Enabling Specialization
Learn After
Share of Non-Agricultural Labor Force (1300–2019)
Arthur Lewis
Imagine a country over a 50-year period experiences a significant technological revolution, leading to a rapid expansion of its manufacturing sector. The total economic output of the country triples during this time. Based on the typical pattern of structural economic change observed in modern economic history, which of the following statements most accurately describes the likely transformation of this country's agricultural sector?
Critiquing an Economic Argument
Analyzing Structural Economic Change in Country Y
The decline in agriculture's share of the total economy during the rise of modern economic growth was primarily caused by a significant and sustained fall in the total volume of agricultural production.
During the period of major structural economic change that saw the rise of industrial economies, different sectors of the economy experienced distinct shifts in their relative importance. Match each economic sector with the description of its typical trajectory during this transformation.
Explaining the Paradox of Agricultural Growth and Decline
A key feature of the structural economic change that accompanied industrialization is that even as total agricultural production often increased, its ______ share of the total economy declined due to the much faster growth of the manufacturing and service sectors.
Arrange the following events to illustrate the typical historical sequence of a country's structural economic transformation away from agricultural dominance.
Interpreting Economic Data on Structural Change
Evaluating a Development Strategy