Download Review Sheet for USI AP Economics Exam Northern Economy vs

Review Sheet for USI AP Economics Exam
Northern Economy vs. Southern Economy
Factors that led to economic growth before the Civil War
Impact of the cotton gin- Eli Whitney, interchangeable parts, rise of slavery
Impact of textile mills- fueled industrialization, market growth
Growth of markets
Transportation improvements- how did they influence growth, affect relationships between regions of
the US, encourage sectional specialization
Economic specialization- how did the various regions compare to each other in terms of economic
output?
Post Civil War- be able to explain:
How did growth after the Civil War compare to before?- in terms of regions, and also business structure
and philosophy
Factors that led to economic growth after the Civil War:
Rise of big business: trusts, holding companies, steel, oil, railroads
Consequences of economic growth: cities, immigration, wealth gap and threat of social upheaval
Rockefeller, Carnegie, Morgan, etc.- Robber Barons, horizontal and vertical integration
Technological innovations: telephone, light bulb, wireless telegraph – how did they impact people’s
lives? Who invented them?
Labor unions- why were they formed? What struggles did they have?
Homework Check:
Cornell Notes on Southern economy packet, pre Civil War industry packet, and post Civil War industry
packet