Question

How did the economic law of supply and demand increase the wealth of business owners during the Industrial Revolution?

Answer 1

The law of supply and demand made owners wealthy in the Industrial Revolution because D) As mass production lowered the prices of goods, many more consumers bought them, which increased demand.

How did supply and demand affect the industrial revolution?

As a result of the mass production techniques employed by the factory owners, more goods were able to be produced and so could be offered at a lower price.

These lower prices led to increased demand for goods because more people could afford the goods.

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