transition.
the
Innovation and technology helped the US economy change and grow. Also, it is positively affected by an open economy, free labor market, and less federal government regulation.
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In the 1800s, the U.S. economy underwent a significant transformation from agrarian-based to industrialized. The introduction of new technologies, such as the steam engine and the telegraph, facilitated the growth of industries and transportation, particularly railroads. Additionally, westward expansion and the rise of factories led to increased urbanization and a shift towards wage labor. This period also saw the emergence of a market economy, with greater emphasis on trade and commerce.
The steam locomotive changed Americas economy in a positive way. Transportation was easy and convenient which made is possible for people to trade and thus improve the entire economy.
standard of living
In the 1700s,Europeans went through a great change where more goods were produced by machines than by hand. TEEHEE im smart.;p
During an expansionary period/phase, an economy grows. In a contractionary period/phase, an economy declines/retracts until it begins to grow again.
Economy needed to change.
Recession means the period of reduction in trade and commerce in the economy.
The Boom Period is a part of the business cycle where there is a continuous growth in the economy.
the
The Great Depression
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business cycle
yes
industrialization