Market Revolution Impact and Changes

The video provides an overview of the American Market Revolution, highlighting its definition, historical context, and impact on the United States. It explains how technological advancements in communication and transportation expanded markets, leading to economic and social changes. The revolution marked a shift from a rural to an urban society, with increased industrialization and a growing middle class. While it brought prosperity to some, it also led to job losses for skilled laborers. The video concludes by noting the varied regional impacts and the mixed outcomes of the revolution.

What event is often considered the starting point of the American Market Revolution?

• The Civil War

• The War of 1812

• The American Revolution

• The Industrial Revolution

How did the market revolution redefine the concept of a market?

• It limited markets to local towns

• It expanded markets through improved communication and transportation

• It made markets dependent on government control

• It eliminated the need for markets

Which invention allowed for instantaneous communication over long distances during the market revolution?

• The telephone

• The telegraph

• The radio

• The internet

What was a significant impact of improved transportation during the market revolution?

• Easier and cheaper exchange of goods

• Slower movement of people

• Decreased industrial output

• Increased cost of goods

Which region in the United States became highly industrialized during the market revolution?

• The Midwest

• The North

• The West

• The South

What was the primary economic activity in the South during the market revolution?

• Industrial manufacturing

• Commercial agriculture

• Fishing and whaling

• Mining and resource extraction

How did the market revolution contribute to the growth of the middle class?

• By decreasing urbanization

• By creating new roles such as managers and accountants

• By increasing the number of factory jobs

• By reducing the need for skilled labor

Which group of immigrants primarily provided labor for factories in northern cities during the market revolution?

• Chinese and Japanese

• Irish and German

• Mexican and Canadian

• Italian and Greek

What was a negative consequence of the market revolution for skilled laborers?

• Higher wages

• More demand for handmade goods

• Loss of jobs due to factory production

• Increased job opportunities

What societal shift did the market revolution help to accelerate in America?

• From urban to rural society

• From rural to urban society

• From capitalist to socialist society

• From industrial to agrarian society