Ruin of cottage industry
Understand the Problem
The question is referencing the decline or downfall of cottage industries, which were small-scale, home-based manufacturing businesses. Understanding the factors that contributed to their ruin is essential, likely involving topics such as industrialization, economic changes, and globalization.
Answer
The Industrial Revolution's mechanized production led to the decline of cottage industries by making home-based production less competitive.
The ruin of cottage industries began with the Industrial Revolution, which introduced mechanized production. This led to mass production methods that made home-based production less competitive, causing a decline in cottage industries.
Answer for screen readers
The ruin of cottage industries began with the Industrial Revolution, which introduced mechanized production. This led to mass production methods that made home-based production less competitive, causing a decline in cottage industries.
More Information
The Industrial Revolution fundamentally altered economic structures by favoring cost-efficiency and scale, which classical cottage industries could not compete with. It was a global shift in production methodologies.
Tips
A common mistake is neglecting the broader socioeconomic shifts during the Industrial Revolution, such as urbanization, which also contributed to the decline of cottage industries.
Sources
- The Fall of Cottage Industries - The Economic Transcript - tetofficial.com
- What Is a Cottage Industry? Significance in Developing Economies - investopedia.com
- The Impact of Issues and Challenges on Cottage Industry in Rural ... - researchgate.net
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