1. What were the most significant changes in America because of the Industrial Revolution?
One of the biggest changes in America that came to be because of the American Revolution was the explosion of the railroad industry. The immense amount of railroads built and operated in the American Industrial Revolution created jobs in many departments, as well as skyrocketing demand for lumber, steel, and leather, thereby growing all of those industries as well. The ever-increasing amount of inventions occurring throughout the Industrial Revolution also created more business in all industries, as well as increasing the efficiency of mass production. This was complemented by the newly emerging need for it (mass production) as railroads began carrying products all over the country, allowing for business owners to reach an exponentially larger amount of customers.
2. The video talks about several significant industries / businesses that developed and grew in America as a result of the Industrial Revolution; name 2 that the video talks about, and explain them …show more content…
Rockefeller. He entered the oil industry at the age of twenty-three, and began to work towards his goal of monopolizing the oil industry. He got remarkably close to this goal through both horizontal and vertical integration, as he bought both the suppliers and his competitors, and by the year 1880, he owned ninety percent of the industry under the Standard Oil Trust. Despite lowering prices for consumers as the industry became more efficient and middlemen were cut out, this trust was still disbanded by the Sherman Antitrust Act for acting as a monopoly. Even with this governmental break-up of his holdings, however, he was still held the title of the world’s richest man, and is credited with being the richest person in United States history, with an approximated total of $1.4 billion at his time of
One of the biggest changes in America that came to be because of the American Revolution was the explosion of the railroad industry. The immense amount of railroads built and operated in the American Industrial Revolution created jobs in many departments, as well as skyrocketing demand for lumber, steel, and leather, thereby growing all of those industries as well. The ever-increasing amount of inventions occurring throughout the Industrial Revolution also created more business in all industries, as well as increasing the efficiency of mass production. This was complemented by the newly emerging need for it (mass production) as railroads began carrying products all over the country, allowing for business owners to reach an exponentially larger amount of customers.
2. The video talks about several significant industries / businesses that developed and grew in America as a result of the Industrial Revolution; name 2 that the video talks about, and explain them …show more content…
Rockefeller. He entered the oil industry at the age of twenty-three, and began to work towards his goal of monopolizing the oil industry. He got remarkably close to this goal through both horizontal and vertical integration, as he bought both the suppliers and his competitors, and by the year 1880, he owned ninety percent of the industry under the Standard Oil Trust. Despite lowering prices for consumers as the industry became more efficient and middlemen were cut out, this trust was still disbanded by the Sherman Antitrust Act for acting as a monopoly. Even with this governmental break-up of his holdings, however, he was still held the title of the world’s richest man, and is credited with being the richest person in United States history, with an approximated total of $1.4 billion at his time of