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 them cheaply and did not have to import them from other countries.

Detailed explanation-2: -Which invention do you think has had the most lasting influence? Air brakes system for railroads invented by George Westinghouse. Air brakes made it possible for trains to transport heavy loads, heavy loads meant more things to trade and more trade means more profit being made.

Detailed explanation-3: -In these circumstances, big corporations had several advantages: They could produce goods more cheaply and efficiently. They could continue to operate in poor economic times by cutting prices to increase sales, rather than shutting down.

Detailed explanation-4: -Between 1865 and 1897, deflation caused prices to fall, which increased the buying power of workers’ wages. Although companies cut wages regularly in the late 1800s, prices fell even faster, so that wages were actually still going up in buying power.