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What are the factors of industrial growth?
Capital investment, labor input, financial investment and technological progress are factors that affecting the growth of industrial economy.
What are industrial factors?
Industrial locations are complex in nature. These are influenced by the availability of many factors. Some of them are: raw material, land, water, labor, capital, power, transport, and market. For ease of convenience, we can classify the location factors into two: geographical factors and non-geographical factors.
What are the seven factors of industrial growth?
Terms in this set (14)
- Cornelius Vanderbilt. An industrial giant who made his millions in the railroad industry.
- Capitalism.
- Laissez-faire.
- Corporation.
- Government Cooperation.
- Technology.
- Labor Supply.
- Capital.
What are the 6 factors of industrialization?
Terms in this set (6)
- 1st factor. better transportaton.
- 2nd factor. stable govt.
- 3rd factor. stable economy.
- 4th factor. human resources.
- 5th factor. natural resources.
- 6th factor. new technology.
How did the Industrial Revolution affect the United States?
And the social problems that accompanied the nation’s industrial development fueled the rise of national labor unions and unprecedented clashes between capital and labor. This discontent captured the attention of reformers and politicians who began to challenge traditional party politics through third-party movements.
What was the economy of the United States in the 19th century?
From the era of Reconstruction to the end of the 19th century, the United States underwent an economic transformation marked by the maturing of the industrial economy, the rapid expansion of big business, the development of large-scale agriculture, and the rise of national labor unions and industrial conflict.
How did mechanization affect the development of the United States?
However, the accompanying rise of the American corporation and the advent of big business resulted in a concentration of the nation’s productive capacities in fewer and fewer hands. Mechanization brought farming into the realm of big business as well, making the United States the world’s premier food producer–a position it has never surrendered.
What was the economy of the United States in 1870?
1870-1900 From the era of Reconstruction to the end of the 19th century, the United States underwent an economic transformation marked by the maturing of the industrial economy, the rapid expansion of big business, the development of large-scale agriculture,…
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