Rank the Following in Terms of Their Contribution to Industrialization

question 22

Essay

Rank the following in terms of their contribution to industrialization: cotton gin, principle of interchangeable parts, the Erie Canal, and the development of the railroads in the North and West. Justify your ranking.

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Definitions:

Collection Delay

The time period between when a check is deposited and when the funds become available in the account, affecting cash flow management.

Customers

Individuals or organizations that purchase goods or services from a business.

Average Amount

The arithmetic mean of a set of numbers, representing a central or typical value in a dataset.

Optimal Average Cash Balance

The ideal amount of cash that a company should hold to minimize costs associated with holding too much or too little cash.