The Industrial Revolution was a period of rapid industrialization and technological advancement that transformed societies worldwide. It had a profound impact on social and economic structures, leading to significant changes in the way people lived and worked. The expected answer should provide a detailed account of the social and economic changes brought about by the Industrial Revolution. This includes the shift from agrarian to industrial societies, the rise of capitalism and the factory system, the growth of cities, and the emergence of social classes. The answer should also discuss the positive and negative consequences of these changes, such as improved living standards for some, but also increased poverty and social inequality.