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Published byNigel Woods
Modified over 4 years ago
The Market Revolution
Specialization Mid-1800s –Farmers changed from self- sufficiency to specialization –Raised 1 or 2 cash crops, bought household goods from stores
Market revolution Before mid-1800s: –Markets sold very few items –People made most items & bought what couldn’t be made at home
Market revolution By mid-1800s: –People bought items others made –Specialization created efficiency –Economy grew quickly
Capitalism People & private businesses own means of production –Use them to create profits –Factories, machines, land, $
Capitalism Free enterprise –Right to own a business Entrepreneur –Risk-taker working for profits –Start own business Could become fabulously rich Could die penniless in a gutter
New inventions Specialization led to lower prices –People could afford goods for luxury & convenience Household inventions –Made chores easier
Agricultural inventions Many went from farm to factory More food from fewer farmers –Seed drill & metal plow –Mechanical reaper
Communication inventions Telegraph –Invented by Samuel Morse –1 st invention giving ability to communicate long distance
Transportation inventions Most important reason: –Shipping goods cheaper & easier Steamboats –Allowed people to get back upstream quickly
Transportation inventions Canals –Shipping on water much cheaper than shipping over land –Ships went farther – made steamboats more effective
Transportation inventions Railroads –By 1860 became #1 way to travel –MUCH faster & cheaper than any other method
New markets Transportation allowed regions to specialize –Could buy from elsewhere
Southern agriculture South looked down on northern big city factories –Filthy & overcrowded –South didn’t have $ to build factories anyway –$ tied up in farmland & slaves
Southern agriculture Main cash crops: –Cotton, rice, tobacco 80% of cotton was sold to UK –Dependent on British economy – if Brits don’t buy, south is sunk
Northern industry Transportation made north rich –Shipped southern & western goods to foreign markets –Made $ as middlemen Factories grew much bigger
Midwestern farming Inventions made it easier to grow crops Midwestern farms started growing cash crops –No longer subsistence farming
Guided Reading and Review
9.1: The Market Revolution
Industrial Revolution. What you need to know Eli Whitney – 2 major inventions How Industrial Revolution changed life NE shift to manufacturing How cotton.
Market Revolution Chapter 9 Sect 1 Pg 274. U.S. Market Expands 19 th Century –Families made their own goods. (food, clothing, ect.) –Made cash selling.
Economic Revolutions and Nationalism Unit 4, Lesson 2.
Industrialization. Industrialization Basic Vocabulary.
LESSON OBJECTIVES/ GOALS/ SWBAT
THE INDUSTRIAL REVOLUTION
What inventions and technologies have made your life more enjoyable? Why? Journal Entry for
C13 S 1 The North’s Economy Industry: division of labor, tasks divided among workers. Factories workers brought together under one roof made production.
Antebellum America: North vs. South. The North: Farming Mostly small farms Labor provided by family members Subsistence agriculture: food crops and livestock.
The Industrial Revolution
Industrialization and Transportation
Antebellum America: North vs. South.
In groups, examine each of 4 placards. For each, look at technology
The Market Revolution Chapter 9-1. Markets Expand Early 19 th century: rural Americans = self-sufficient mid 19 th century: US more industrialized.
9-1 THE MARKET REVOLUTION Pgs U.S. Markets Expand Farmers began to shift from self-sufficiency – raising a wide variety of food for their.
Industrial Age Industrial Revolution. DO NOT WRITE THIS DOWN Started in Britain Most people in 1750 grew own food, made own clothes, used candles for.
Chapter 15 section 1 Introduction Frederick Douglass always had an independent spirit. He learned to read and then taught others, although it was forbidden.
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