USA HISTORY

Detailed explanation-1: -An abundance of raw materials was one reason for the nation’s industrial success. The United States had vast natural resources, including timber, coal, iron, and copper. This meant that American companies could obtain resources cheaply and did not have to import them from other countries.

Detailed explanation-2: -Natural resources provide essential raw materials and other commodities, and are an important source of income and jobs. They also support the provision of ecosystem services necessary to develop human and social capital.

Detailed explanation-3: -Key Takeaways. Six natural resources give the U.S. economy with a superior advantage. These include a large landmass, expansive coastlines, fertile land, fresh water, oil and coal, and a diverse population. Natural resources make up one of the four factors of production necessary for an economy.

Detailed explanation-4: -North America is a leading producer of coal, used in energy production; bauxite, used to create aluminum; iron and copper, both used in construction; and nickel, used to create steel, which North American companies export around the world. Gold and silver mines operate in the western part of the continent.