Final answer:
Two major effects of new technology on business during the industrial revolution were increased production and the rise of large-scale factories.
Step-by-step explanation:
Effects of New Technology on Business during the Industrial Revolution
Two major effects of new technology on business during the industrial revolution were increased production and the rise of large-scale factories.
The introduction of machinery, such as textile mills and steam engines, allowed for faster and more efficient production of goods, leading to increased output and profits for businesses.
Additionally, the development of large-scale factories enabled the mass production of goods, which resulted in the growth of corporations and the decline of individual businesses.