In order to maximize profits early in the nineteenth century what was a common practice of business owners?

In the early nineteenth century, a common practice among business owners to maximize profits was to minimize labor costs by employing low-wage workers, including women and children, often in harsh conditions. Many factories operated with long hours and limited safety measures, allowing owners to increase production while keeping expenses low. Additionally, business owners often sought to monopolize markets or engage in price-fixing to control supply and demand, further enhancing profit margins. This focus on cost-cutting and market control significantly contributed to the rapid industrialization of the period.