Interconnected Transportation and Communications Networks Were Essential to the Origins

question 41

Multiple Choice

Interconnected transportation and communications networks were essential to the origins of the Second Industrial Revolution in the United States because:

• A) there would have been no immigration to the United States without them
• B) they allowed Thomas Edison and Alexander Graham Bell to travel abroad to study
• C) they facilitated the emergence of a national and even international markets for American goods and services
• D) the South would have won the Civil War without them
• E) they provided Andrew Carnegie the opportunity to earn his fortune

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Definitions:

Socially Optimal

A state or outcome that maximizes the overall welfare or benefit to society, often considered in economics and game theory to balance individual and collective interests.

Gasoline

A volatile, flammable liquid derived from petroleum, used primarily as fuel in spark-ignited internal combustion engines.

Negative Externality

A cost that is suffered by a third party due to an economic transaction or activity.

Production

The act of merging diverse physical and non-physical inputs (including blueprints and skills) to produce goods for consumption.