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ECONOMICS STANDARD ONE (a): Students will analyze how changes in technology, costs, and demand interact in competitive markets to determine or change the.

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Presentation on theme: "ECONOMICS STANDARD ONE (a): Students will analyze how changes in technology, costs, and demand interact in competitive markets to determine or change the."— Presentation transcript:

1 ECONOMICS STANDARD ONE (a): Students will analyze how changes in technology, costs, and demand interact in competitive markets to determine or change the price of goods and services. HISTORY STANDARD ONE (a): Students will examine historical materials relating to a particular region, society, or theme; analyze change over time, and make logical inferences concerning cause and effect. LEARNING ESSENTIAL QUESTIONS (1)Under what market conditions does price change? (2)Is change inevitable? (3) How did technology and westward expansion impact the emerging industrial nation?

2 UNIT V - The Industrial Revolution I.Industrial Revolution A. Early 1800s (in the United States) 1. Long, slow process that completely changed the way in which goods were produced. machines replaced hand tools steam power replaced human and animal power economy gradually began to shift from farming to manufacturing 2.Started in Britain in the mid-1700s.

3 B.Inventors 1. James Hargreaves spinning jenny – could spin several threads at once 2. Edmund Cartwright built a loom powered by steam that could spin thread 3. Eli Whitney created a machine that could manufacture interchangeable parts for guns 4. Francis Lowell created a factory town in Lowell, Massachusetts combined spinning and weaving in order to turn raw cotton into finished cloth in the same factory

4 Spinning Jenny James Hargreaves Loom Edmund Cartwright

5 C.The Factory System 1. factory system – brought workers and machinery together in one place to produce goods capital – money capitalist – person who invests money (capital) in a business in order to make a profit

6 D.Human Resources 1. Child Labor boys and girls as young as seven worked in factories in order to help support their families 2. Long Hours 12 hours a day 6 days a week 72 hours a week nearly the same hours year round

7 E.Urbanization 1. Movement of the population from farms to cities. in 1800, only 6% of the nation’s population lived in urban areas 1850 = 15% Today = 81% 2. Hazards dirt and gravel streets turned into mud holes when it rained no sewers and people threw garbage into the streets disease easily spread – influenza and cholera killed hundreds

8 3. Attractions theaters, museums, circuses hat shops, china shops, shoes stores “fancy-goods” stores


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