The War of 1812 is unusual in that both nations believe their country to have won the war. In the United States, this was extremely signficant as a way to unify the nation by creating a strong national identity. Prior to this war, Americans did not feel unified, as people focused more on their belonging to a particular colony than to the nation. However, the threat of a foreign nation attacking the United States contributed to developing a sense of unity. Because of this, the war has been called the "second war of independence."
In factor market individuals supply factors such as labor in return for wages, rent and interest while in the product market firms supply products and individuals pay for them.
