Explain the relationship between price and supply, and how this affected peoples standard of living during the industrial revolution.

When supply goes up, and things are more accessable, price goes down. That is because demand goes down with it.

Explanation:

When supply goes up, and things are more accessable, price goes down. That is because demand goes down with it. The demand goes down because having more supply makes it easier to get and thus, not in need so much. During the industrial revolution, supply of things changed a lot. the idea of industry globally bloomed and the world saw mass production of goods at super high rates. Because the supply of products was now much higher because of factories and mass production allowing for more stuff to be made so much faster, the demand for goods went down as there wasn't as much a need for htings and thus, the price went down as well. industries try and make profit so some of the results were wages going down. people who worked industrially or in cities and factoires had low wages long hours and tough working conditions all so companies saw the oppurtunithy at hand of larger profiting than imaginable and thus unfairly used this at the expense of workers. so basiclaly, theior standard of living kinda went to sh+t when factories created a devide between the have and have nots and well, rich people had nicere lives though!

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