Answer:
increased trade, reduced food prices in eastern cities, allowed machinery and other bulky items to be economically shipped from east to mid-west, reduced travel time for passengers
Explanation:
Erie Canal connected Lake Erie and the Great Lake system to Hudson River. It granted direct access to Atlantic Ocean to western states of US without have to travel downstream on the Mississippi River to New Orleans first. It also made inland transportation much easier.
The Erie Canal reduced cost of shipping and increased trade. It eased passenger movement. It increased export of mid-western wheat to Britain.It increased trading between Canada and US.
Overall, canal brought significant economic advantage by increasing trade and reducing prices in New York.
Answer:
Factory owners prefer this way because this system allows for freedom among the people. Market socialism
Explanation:
Answer:
consumerism
Explanation:
consumerism refers to the theory that spending money and consuming goods is good for the economy. Opponents of consumerism suggest simple living is a more sustainable lifestyle and better for the environment.
For an economy in surplus, consumerism is important because it creates demand. Consumers are constantly chasing trends and fashion for the satisfaction of buying an object of desire. This leads to higher consumption as people do not want to be seen with outdated goods.
Although consumerism drives economic growth and boosts innovation, it comes with a fair share of problems ranging from environmental and moral degradation to higher debt levels and mental health problems.