What role did the railroads and new technologies play in the rise of American big business?Railroads expanded significantly, bringing even remote parts of the country into a national market economy. Industrial growth transformed American society. It produced a new class of wealthy industrialists and a prosperous middle class. It also produced a vastly expanded blue collar working class.
How did the railroads contribute to the rise of big business?Where railroads went, towns and cities with bustling new commerce arose, all dependent on the railways for shipments of food and goods. The construction of the railroads spawned huge new industries in steel, iron, and coal. No other business so dramatically stimulated and embodied the industrialization process.
What role did railroads and new technologies play in the rise of American big business quizlet?What role did railroads and new technologies play in the rise of American big business? Railroads helped the creation of new towns through federal land grants. Railroads created new markets and fueled other industries.
How changes to the railroad helped American industries to grow?The railroads accelerated the pace of the Industrial Revolution. New technologies, such as machine building and iron and steel production, advanced to meet the demands of railroad growth. By providing cheaper and faster freight delivery, the railroads helped create a new national market.
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Why are railroads considered America's first big business?The railroad industry quickly became the nation's first “big business.” A powerful, inexpensive, and consistent form of transportation, railroads accelerated the development of virtually every other industry in the country.
How did railroads benefit businesses and industries in the US?Not only did the railroads transport raw materials used in industrial production, such as coal and iron ore, the railroads were also one of the largest consumers of raw materials in their own right. The growth of railroads thus led to growth in other industries, such as timber and coal.
Which effects did the growth of railroads have on businesses and society quizlet?The growth of the railroad technology changed American society by moving/promoting people to move West, an abundance of available resources and travel, and a provision of jobs. It changed business by providing jobs and an abundance of resources for industries, as well as new businesses forming out West.
How did railroad companies become some of the most powerful businesses in the country?How did railroad companies become some of the most powerful businesses in the country? The country depended on them for trade, travel and transportation.
What impact did big business have on American society?Yet the rise of big business also produced many anxieties. Corporations were accused of abusing workers, corrupting the political process, and producing shoddy, unsafe products. Many feared that corporate power allowed companies to fix prices and influence government decision-making.
What methods did big railroads use to win and keep business?Large railroads offered discounts called rebates to their biggest customers. Smaller railroads that could not match these prices were often forced out of business. Giving discounts to big customers meant higher rates for other customers who shipped small loads.
How did technology reshape the American economy?As described below, throughout the 20th century new techno- logical developments created new products and new ways for firms to con- duct business, and so changed the structure of the economy. Those changes, in turn, produced changes in the role of government in competition, regula- tory, and technology policy.
How did big business shape the American economy?Big business manipulated markets to maximize profits, formed corporations to avoid losses, created monopolies and cartels, and used vertical integration to control markets and eliminate competitors. These tactics often favored national businesses to the detriment of the local, family-owned businesses.
How did new technologies affect all Americans?How did new technologies affect all Americans? It influenced the revolution of innovative thinking. Technology has made life in America much easier than before. Now we can communicate in faster ways, cook our food at a faster temperature, obtain better knowledge about our health.
What business did railroads help?It made commerce possible on a vast scale.
In addition to transporting western food crops and raw materials to East Coast markets and manufactured goods from East Coast cities to the West Coast, the railroad also facilitated international trade.