Discuss How the Availability of Labor and Exploitation of Relatively

question 7

Essay

Discuss how the availability of labor and exploitation of relatively inexpensive raw materials contributed to the increase in industrial output after the Civil War.

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Definitions:

Fixed Assets

Long-term tangible assets used in the operation of a business that are not expected to be consumed or converted into cash within a year.

Operating Capacity

Operating capacity refers to the maximum output that a company can produce using its available resources, under given conditions, over a certain period.

Sales Increase

A situation where the number or volume of products or services sold by a company rises during a specific period, indicating growth or demand.

Accounts Receivable

Funds that customers owe to a business for goods or services already provided but not yet compensated for.