Final answer:
The British factory system led to the social problem of worker exploitation, with long hours and unsafe conditions, while its benefit was economic growth due to increased productivity and technological innovation.
Step-by-step explanation:
One significant social problem associated with the British factory system was the exploitation of workers, including the use of child labor. Factory owners prioritized profit over the well-being of their employees, leading to long hours, low wages, and unsafe working conditions. In contrast, one major benefit was the economic growth and increased productivity brought about by technological advances and the consolidation of labor in factories, which also contributed to urbanization and the development of a consumer economy.
Factory system entrepreneurs capitalized on the availability of cheap immigrant labor and resources from British colonies. This combination helped create diverse industrial centers and supported the massive growth of wealth among industrialists. However, it also resulted in significant social stratification and harsh living and working conditions for the labor force.