How did the industrial revolution affect the following: world economy, production, distribution, trade, and standard of living?

The Industrial Revolution or First Industrial Revolution is the process of economic, social and technological transformation that began in the second half of the 18th century in the Kingdom of Great Britain, which spread a few decades later to a large part of Western Europe and Anglo-Saxon America, and that concluded between 1820 and 1840. During this period the greatest set of economic, technological and social transformations of the history of mankind was experienced since the Neolithic, which saw the transition from a rural economy based fundamentally on agriculture and commerce to an urban economy, industrialized and mechanized.

The Industrial Revolution marks a turning point in history, modifying and influencing all aspects of daily life in one way or another. Both agricultural production and the nascent industry multiplied while production time decreased. After 1800, wealth and income per capita multiplied as it had never done in history. Later, the development of ships and steam railways, as well as the development of the internal combustion engine and electric power in the second half of the 19th century, meant unprecedented technological progress.

As a consequence of industrial development, new groups or social classes were born, led by the proletariat - industrial workers and poor peasants - and the bourgeoisie, owner of the means of production and owner of most of the income and capital.

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