What Factors Contributed to the Industrialization of the United States

question 38

Essay

What factors contributed to the industrialization of the United States in the nineteenth century?

---

Definitions:

Work Hours

The amount of time an individual spends performing tasks or duties for an employer during a given period.

Marginal Cost

The cost to produce one additional unit of a product or service.

Buffet

A meal consisting of various dishes set out on a table or sideboard from which guests can serve themselves.

Profit Opportunities

Situations where individuals or firms can earn a return on investment that is more than the norm, often due to market inefficiencies or information asymmetries.