An industrial economy is an economic system primarily based on manufacturing goods using advanced machinery, technology, and factories. It typically involves mass production and a division of labor.
Related terms
Capitalism: An economic system characterized by private ownership of businesses for profit.
Urbanization: The process of population shifting from rural areas to urban areas due to industrialization.
Assembly Line: A manufacturing process where products are assembled step-by-step using a conveyor belt or other means of transitioning between workstations.