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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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