Industrialization

Definition

Industrialization is the transition from an agrarian-based economy to one dominated by manufacturing industries. It involves mechanization, mass production techniques, and increased use of technology.

Related terms

Capitalism: An economic system characterized by private ownership of resources and the pursuit of profit through competition in a free market.

Labor Union: An organization formed by workers to protect their rights and advocate for better working conditions, wages, and benefits.

Division of Labor: The specialization of tasks within a production process, where each worker focuses on a specific aspect to increase efficiency.