There is an agreement of price and quantity in the market therefore all market forces stabilized and reached a price that consumers are willing to pay for goods and producers a price at which they are willing to produce in order to make a profit
The industrial revolution was a process of technological, social, and economic transformation that started in the United Kingdom at the end of the 18th-century, then expanded to other regions in Europe and North-America and later transformed the world economy. The industrial revolution impacted on several areas of human activities:
Politics: during the industrial revolution printing systems were improved and developed which allowed publishing a greater number of newspapers and political pamphlets. This gave birth to the public opinion, to journalism as a profession that watches over the political agenda, and it made possible to transfer and exchange political ideas among the general public. Modern democracy was designed according to these communication technologies that were invented during the Industrial Revolution.
Economy: the industrial revolution saw the rise of railways and bigger and faster transport ships, which allowed to increase the number of traded goods among different markets. It increased the general production and profit of industrial countries.
Society: during this period, many innovations were created in order to solve daily problems. Inventions like the telephone, the car, and the airplane, permitted common people to have access to instant communication and to travel long distances in less time. Also, the development of modern medicine helped to improve the quality of life.
Cowboys spent over 12 hours in the saddle, they suffered from rheumatism, damage to their spines and a wide variety of injuries related to their work.
