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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North
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South
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West
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East
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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: -The rise of the United States as an industrial power began after the Civil War. Many factors promoted industry, including cheap labor, new inventions and technology, and plentiful raw materials. Railroads rapidly expanded.
Detailed explanation-3: -Old industries expanded and many new ones, including petroleum refining, steel manufacturing, and electrical power, emerged. Railroads expanded significantly, bringing even remote parts of the country into a national market economy. Industrial growth transformed American society.
Detailed explanation-4: -The U.S. economy grew rapidly after the Civil War, fueled by an astounding rise in wealth, wages, production, and corporate mergers, along with limited government regulation. The volume of stocks traded rose sharply with corporations’ need for investment capital and the development of new technologies.