With respect to the changing nature of work and economy three broad stage of economy are as follows: Agriculture Revolution : From hunting-gathering and then pastoral phases, human society entered into a new stage with discovery of agriculture. With development of agriculture, food production increased. Complex division of labour, advanced trade and permanent settlement are the result of economy expansion through agricultural technology.
Industrial Revolution : Industrial revolution which happened around the middle of the 18th century, first in England transformed social and economic life like never before. It brought four notable economic changes.
The Information Revolution : By the middle of the 20th century the nature of production started to change. The use of automated machinery drastically reduced the role of human labour in manufacturing. Three key changes were seen due to the development of computer and information technology.
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