Factory System: Meaning, Evolution and Merits

After reading this article you will learn about:- 1. Meaning of Factory System 2. Evolution of Factory System 3. Economic Development 4. Technological Development 5. Merits 6. Demerits. Meaning of Factory System: Modern Industry means "Factory system", and can be described as the system of production in which hand tools have been replaced by complicated and costly automatic machines. The [...]