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Oil
Grains
Iron
Coal
Rubber
Resources from the earth that are used to
make manufactured goods.
Production
technology
Communications
technology
Transportation
technology
Millions of immigrants came to America and
made up a large portion of the industrial
labor force.
Capitalists
Manufacturers produce what consumers want
Manufacturers compete for consumers
•Low prices
•High quality
•Private property
•The government doesn’t own
resources or factories
All members of a capitalist society are trying to
keep as much money as possible
Natural
resources
Production
Food, clothing
Rent, taxes, electricity, etc.
Wages
Distribution
Everyone
tries to make
more than
they spend.
•NO GOVERNMENT
INTERFERENCE IN BUSINESS
•ABSOLUTE FREEDOM!
The Essential Question to bear in mind
as we study the industrialization of
America.