Presentation on theme: "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."— Presentation transcript:
U.S. Market Expands 19 th Century –Families made their own goods. (food, clothing, ect.) –Made cash selling excess goods. (butter, wood, eggs) –Used cash to buy coffee, tea, sugar After Industrialization… –People spent money on other goods. –Farmers shift from self-sufficiency to specialization.
U.S. Market Expands Specialization – raising 1 or 2 cash crops to sell. Lead to…Market Revolution –People bought & sold goods rather than making them. Growth depended on Capitalism –Economic system where private businesses control the means of production & earn profits Investors called Entrepreneurs –Investors who risk their own money in new industries.
New Inventions Charles Goodyear developed vulcanized rubber. –Wouldn’t freeze or melt in extreme weather Sewing machine patented in 1846 –Led to the factory production of clothing John Deere invented the steel plow –Replace oxen w/ horses Cyrus McCormick invented the reaper –Allowed 1 farmer to do the work of 5
Impact on Communication & Transportation Samuel Morse created the telegraph. –Carried messages across copper wires. Efficient transportation became essential. Robert Fulton created a steam ship that could travel both up & down a river. –Shipping costs fell making it ten times cheaper to ship goods by boat.
Impact on Communication & Transportation Railroads offered the advantage of speed. Trains could operate in winter. Brought goods further inland. Improved communication & transportation made America’s regions interdependant.
New Markets Link Regions South remain agricultural. –Relied on tobacco, cotton, rice Northeast became a center for commerce. –Relied on manufacturing to sustain the economy. Midwest became agricultural. –People began moving from the northeast to the Midwest. –First had to cultivate the land. –Relied on specialization of wheat & corn –Encouraged southerners & northerners to seek land in the west.
Critical Thinking Questions 1.What was the market revolution? 2.What role did entrepreneurs play in fueling the nation’s economy? 3.How did inventions impact consumers? 4.How did the invention of the telegraph enhance the nation’s business activities? 5.In what ways did Americans improve their transportation systems? 6.What factors helped the Northeast to become a center of commerce? 7.What inventions helped to improve farming in the Midwest? 8.Why did the South remain largely agricultural throughout the early and mid-1800s?