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Sept 16 Notes (Industrial Expansion)

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Sept 16 Notes (Industrial Expansion)

  1. 1. Industrial Expansion
  2. 2. <ul><li>Process of changing from an agricultural to a manufacturing economy </li></ul>Industrialization <ul><li>Requires capital (money & resources) </li></ul><ul><li>Requires laborers </li></ul>
  3. 3. <ul><li>Availability of Natural Resources </li></ul>Causes of Industrialization Coal & Iron (steel) Oil
  4. 4. <ul><li>New Inventions </li></ul>Causes of Industrialization Typewriter Light Bulb & Electricity Telephone
  5. 5. <ul><li>Railroads </li></ul>Causes of Industrialization <ul><li>Transported natural resources nationwide </li></ul><ul><li>Growing urban populations </li></ul>
  6. 6. <ul><li>Capitalism (a.k.a. Free Market Economy) </li></ul>U.S. Economy <ul><li>Businesses compete for consumers to buy their products </li></ul>
  7. 7. <ul><li>Capitalism (a.k.a. Free Market Economy) </li></ul>U.S. Economy <ul><li>Consumers want… </li></ul><ul><li>High quality </li></ul><ul><li>Low prices </li></ul>
  8. 8. <ul><li>Capitalism (a.k.a. Free Market Economy) </li></ul>U.S. Economy <ul><li>Businesses want PROFIT </li></ul><ul><li>Made either by charging more OR selling more </li></ul>
  9. 9. <ul><li>BIG BUSINESS </li></ul>Effect of Industrialization <ul><li>Entrepreneurs in the late 1800s organized large & powerful companies to make large profits </li></ul>
  10. 10. The End

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