Final answer:
Improvements in transportation during the Industrial Revolution lowered transportation costs, decreased the prices of goods, and increased demand.
Step-by-step explanation:
During the Industrial Revolution, improvements in transportation had a significant impact on the economy. One of the main effects was that transportation costs decreased due to advancements in technology, such as the steam engine and the construction of canals and railways. This reduction in transportation costs led to a decrease in the prices of goods, making them more affordable and accessible to a larger population.
For example, the construction of the railway network in Britain allowed for faster and more efficient transportation of goods, which in turn lowered their prices. This led to an increase in demand, as more people could afford to purchase them. Additionally, the transportation of raw materials to factories became easier and cheaper, promoting industrial growth and increasing production.
In summary, improvements in transportation during the Industrial Revolution lowered transportation costs, which in turn lowered the prices of goods and increased demand. This had a positive impact on the economy by promoting trade, industrialization, and economic growth.
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