The Erie Canal during the Industrial Revolution was used to transport goods and people across the country. Source |
Although there were many factor that contributed to the U.S. becoming the number one economy of the world, it was the free enterprise and entrepreneurs that contributed the most to the success of the country. Free Enterprise is the Fredom of Private business to operate completively for profit. Thanks to this many people were more interested in creating their own companies. For people who did not want to go throught the hassle of starting a company they chose to become entrepeneurs. Entrepeneurs are risk takers who invest their money in new indstries. Due to the entrepeneurs and free enterprise it was easier for people to start their own industries and also more profitabl for theme. Entrepeneurs were also more interested in investing money on new ideas.
This picture shows how an entrepeneur has to be prepare to take risk that can affect the rest of their life. Source
The single most important resource the U.S. had to help it become the a work-wide industrial power was natural resources. The U.S. had an extensive amount of natural resources like Oil, Iron, Wood, Rivers Gold, etc. Because the U.S. had all these resources we started to export many of these resources to other countries.
|
No comments:
Post a Comment