Why Was Industrialization Slow to Start in the United States,compared

question 45

Essay

Why was industrialization slow to start in the United States,compared to Britain and Europe? What factors helped jumpstart American industrialization eventually?

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Definitions:

Sales

The total revenue generated from goods or services sold by a company over a specified period.

Pretax Income

The amount of income earned by a business before any taxes have been deducted.

Fixed Costs

Fixed costs are business expenses that do not change with the level of goods or services produced by the business, such as rent, salaries, and insurance.

Variable Costs

Costs that vary directly with the level of production or sales volume, such as materials and labor directly involved in manufacturing a product.