Question

During the first half of the 1800s, the U.S. economy experienced explosive growth in output and trade, and a rise in the standard of living for many Americans. This dynamic and expansive growth was, in part, a consequence of the rise of factories, a transportation revolution via canal and rail, a communications revolution spurred by invention of the telegraph, increasing agricultural yields and the mechanization of farm equipment, a rising prosperity for financial institutions, and larger cities. Historians call this new economy:

Answer 1

Answer:

Market Economy

Explanation:

Answer 2

Answer: Market Economy

Explanation:

Market economy is referred to as or known as an economic system under which decisions in accordance with production, investment and distribution are mostly guided by price signals and thus are  created by forces of demand and supply. The major and vital characteristic of market economy is referred to as existence of factor that tends to play dominant role in distribution of capital and also factors of production.