What was one major economic impact of the factory system during the Industrial Revolution?

One major economic impact of the factory system during the Industrial Revolution was the increase in production efficiency. Factories allowed many workers to come together in one place, using machines that could produce goods much faster than individual craftsmen. For example, in a textile factory, a single machine could spin and weave fabric much more quickly than a person could do by hand, leading to more cloth being made in a shorter time. This efficiency lowered the cost of goods, making them more affordable for people, and increased the availability of products in the market. As a result, the factory system helped to boost the economy by creating jobs and encouraging more trade.