Market Revolution In America
In the early eighteen hundreds the United States of America began a dramatic economic transformation that would eventually touch lives of nearly every American in the U.S. Many Americans believed that “The Market Revolution” marked the beginning of modern America.
So what is “The Market Revolution” and how has it impacted the United States? Generally speaking “ The Market Revolution” is an expansion of the market which basically makes improvements in communication, transportation and manufacturing. Let’s take a step further and ask ourselves “What is Market”. Market refers to a group of people who are willing to buy a particular product from you. Before the “Market Revolution” most products were produced and sold locally which basically meant that your market was everyone that was closer to you or your city. Lack of communication and transportation basically translated to less sales and smaller market because the person couldn't sell their product to anyone who lived much further away than they could walk in a single day. This kept the person's market and profits really small. …show more content…
The telegraph was a leap ahead in communication technology. This were the first time in the human history that you could communicate with someone instantly over vast distances. So, basically this meant that a farmer in Ohio could order farming tools from the New England factory for the first time but how can the good arrive to Ohio? That's where some improvement in the transportation began to take place in. In the early 1800’s, better roads started being built, canals were being dug and eventually railroads began going under construction. All of this now meant that you could sell your products to distant buyers and buy products from distant
So what is “The Market Revolution” and how has it impacted the United States? Generally speaking “ The Market Revolution” is an expansion of the market which basically makes improvements in communication, transportation and manufacturing. Let’s take a step further and ask ourselves “What is Market”. Market refers to a group of people who are willing to buy a particular product from you. Before the “Market Revolution” most products were produced and sold locally which basically meant that your market was everyone that was closer to you or your city. Lack of communication and transportation basically translated to less sales and smaller market because the person couldn't sell their product to anyone who lived much further away than they could walk in a single day. This kept the person's market and profits really small. …show more content…
The telegraph was a leap ahead in communication technology. This were the first time in the human history that you could communicate with someone instantly over vast distances. So, basically this meant that a farmer in Ohio could order farming tools from the New England factory for the first time but how can the good arrive to Ohio? That's where some improvement in the transportation began to take place in. In the early 1800’s, better roads started being built, canals were being dug and eventually railroads began going under construction. All of this now meant that you could sell your products to distant buyers and buy products from distant