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: -A surge of technological innovations and inventions, like Thomas Edison’s incandescent lightbulb and Alexander Graham Bell’s telephone, fueled this economic growth. The economic boom made the rich richer and the poor poorer, widening the already large economic gap between the two groups.

Detailed explanation-3: -Many factors promoted industry, including cheap labor, new inventions and technology, and plentiful raw materials. Railroads rapidly expanded. Government policies encouraged growth, and large corporations became an important part of the economy.

Detailed explanation-4: -There were three causes of these advances: a large supply of natural resources, an explosion of inventions, and a growing city population that wanted the new products. One of the more important natural resources was oil.