The major economic change brought about by the Industrial Revolution was the transition from agrarian economies based on manual labor and handicrafts to industrial economies characterized by mechanized manufacturing and factory systems. This transformation led to increased production capacity, efficiency, and urbanization as people moved to cities for work. The Industrial Revolution spurred technological advancements, such as the steam engine and power looms, which revolutionized transportation and communication. It fundamentally altered labor dynamics, class structures, and the availability of goods, laying the groundwork for modern capitalist economies and changing social and economic paradigms worldwide.