WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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government regulated their development
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industries needed large amounts of capital
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proprietorships became too complex to run
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large numbers of jobs were needed for immigrants
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Detailed explanation-1: -In their capital, size, and sophisticat on of operations, railroads were the biggest businesses of the nineteenth century. The growth of railroads was aided immensely by the tele-graph, which was invented in 1844.
Detailed explanation-2: –The development of large-scale national corporations lowered the cost of production and subsequently the prices of finished goods.-The United States benefited from vast untapped reserves of natural resources: land, forests, oil, coal, water, and iron ore.
Detailed explanation-3: -Larger companies began to form. These firms strove to dominate the economic arena. They formed trusts, monopolies, and pools to limit competition from other companies. Business owners formed trusts, where one person or a group of people controlled several companies, to reduce production costs and to set prices.
Detailed explanation-4: -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.