Rise Of Us As An Industrial Power

Question 1

Between 1890-1914 how did the US become the worlds leading economy

Answer 1

Due to mass industrialisation and huge increase in output/productivity

Question 2

Areas of concern in US economy

Answer 2

Times of boom and bust, banking/finance industries struggled to modernise

Question 3

When were the surges in exports and by how much did they increase

Answer 3

2 major surges, 1895-1900 exports grew by 90% 1908-1913 exports grew by 77%

Question 4

What caused the increase in exports

Answer 4

• efficient production
• cheap labour
• vast natural resources

Question 5

Agriculture in the 1890s

Answer 5

1893 panic caused a 3 year depression, farmers in south and west faced falling prices and increasing dependence on railroads and banks

Question 6

What were southern farmers reliant on

Answer 6

‘Big agriculture’

Question 7

How did the economy improve for agriculture

Answer 7

1900 improvements for farmers due to expanding markets increasing demand. Also due to success of farmers cooperatives

Question 8

What act helped farmers

Answer 8

1902 reclamation act, helped irrigation schemes