What is the Market Revolution?
Expansion of the marketplace in the 1800s throughout early america that brought distance communities together and created a national, specialized, and interdependent economy
.
What did the market revolution do?
In the 1820s and 1830s, a market revolution was
transforming American business and global trade
. Factories and mass production increasingly displaced independent artisans. Farms grew and produced goods for distant, not local, markets, shipping them via inexpensive transportation like the Erie Canal.
What was the market revolution Apush?
The Market Revolution was
a fundamental transformation of the United States economy throughout the first half of the 19
th
century
, primarily due to the widespread mechanization of industry and the expansion and integration of various economic markets both domestic and foreign.
What was the market revolution quizlet?
In the 1800s,a shift from a
home-based, often agricultural, economy to one based on money and the buying and selling of goods
. Changes in labor and transportation increased the creation, sale and distribution of goods. You just studied 35 terms!
What were the three causes of the market revolution and why were they significant?
What were the three primary causes of the Market revolution?
Rapid improvements in transportation and communication; the production of goods for a cash market; and the use of inventions and innovations to produce goods for a mass market
.
The market revolution sparked
explosive economic growth and new personal wealth
, but it also created a growing lower class of property-less workers and a series of devastating depressions, called “panics.” Many Americans labored for low wages and became trapped in endless cycles of poverty.
What were the major aspects of the market revolution?
Key Components of the Market Revolution –
Transportation, Mechanization, and Commercial Farming
. Following the War of 1812, the country looked to expand into the western territories in order to take advantage of the economic opportunities there as new markets opened up.
What was the market revolution and how did it change America?
The Market Revolution (1793–1909) in the United States was a
drastic change in the manual-labor system originating in the South
(and soon moving to the North) and later spreading to the entire world. Traditional commerce was made obsolete by improvements in transportation, communication, and industry.
What was the long term result of the market revolution?
The market revolution had a significant short-term and long-term impact on the United States.
The growth of factories greatly impacted the north and allowed for the growth of the country
. As more factories were built, the United States moved from an agrarian society to an industrialized one.
What was happening before the market revolution?
Before the market revolution,
most people worked on their family farms
. They worked hard and produced what their family needed for subsistence and they sold anything leftover locally. … The market economy was beginning to replace the moral economy, which was characterized by doing business in person with familiar people.
How did the Market Revolution affect slavery?
The revolution reverberated across the country. … But there were costs to this revolution. As northern textile factories boomed,
the demand for southern cotton swelled and the institution of American slavery accelerated
. Northern subsistence farmers became laborers bound to the whims of markets and bosses.
How did the Market Revolution affect labor?
The Market Revolution affected the
lives of workers by giving them jobs
. It did bring them from skilled labor to cheap labor though. … There were far more immigrants in the North than in the South because there were more job opportunities due to there being less slaves.
Which of the following was a result of the Market Revolution quizlet?
Which of the following was a major consequence of the Market Revolution?
Farmers grew more crops for their own use, and less for commercial sale
. Slavery rapidly declined throughout the country. Workers enjoyed the power to work for a fair wage, free of exploitation from employers.
How did the Market Revolution affect farmers?
During the Market Revolution, agriculture in the United States
began to shift from subsistence farming to larger commercial operations
. This shift in agriculture catered to emerging domestic and international markets, mirroring a movement away from local markets.
How did the Market Revolution cause the Civil War?
The Market Revolution contributed to the causes of the Civil War. As more machines were used,
the differences between the North and the South grew
. In the South, the cotton gin made it much easier to grow and harvest cotton. … The South wanted to expand slavery to new territories that were being added to the country.
How did the Market Revolution impact the South?
The South was impacted by the Market Revolution.
As the use of the cotton gin expanded, the South turned more and more to the growing of cotton
. Cotton eventually became the leading export of the South. The growth of cotton plantations also led to an expansion of slavery in the South.
