Factors of Production

Factors of Production

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  • Factors of Industrialization The Rapid Growth of the US Economy
  • #1 Population Growth - More people allowed for more businesses, which ended up getting the entire country more money.
  • #2 Railroads - Railroads play a large role because towns and businesses were all built around railroads.
  • #3 Lower Taxes - Lowering Taxes made businesses more money and attraction.
  • #4 Natural Resources - Natural resources helped because instead of having to manufacture resources, businesses could harvest them, which was easier.
  • #5 Entrepreneurs - Without Entrepreneurs, lots of businesses would not exist and the economy would struggle without them.
  • #6 Free Enterprise - Allowed businesses to sell and do as they please under the law.
  • -Americans can now own and buy from businesses -The increase in technology helped everyone further their simplicity of life -The country became stronger as a whole
  • How Industrialization Helped Americans
  • How Industrialization May Have Hurt Americans
  • -Businesses could become too wealthy and start effecting the economy -Cities could get over-filled with people -The unemployment rate could go up
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