THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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created low-wage, low-skill jobs the made the employees easy to replace
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allowed individuals to accumulate huge fortunes
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reduced the demand for hourly wage earners
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contributed to the growth of college business programs
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Detailed explanation-1: -The Industrial Revolution shifted from an agrarian economy to a manufacturing economy where products were no longer made solely by hand but by machines. This led to increased production and efficiency, lower prices, more goods, improved wages, and migration from rural areas to urban areas.
Detailed explanation-2: -Five factors that spurred industrial growth in the late 1800’s are Abundant natural resources (coal, iron, oil); Abundant labor supply; Railroads; Labor saving technological advances (new patents) and Pro-Business government policies.
Detailed explanation-3: -Industrialization, along with great strides in transportation, drove the growth of U.S. cities and a rapidly expanding market economy. It also shaped the development of a large working class in U.S. society, leading eventually to labor struggles and strikes led by working men and women.