Question

What are the major factors that shaped the global economy by 1900?

Answer 1

Answer:

America's business and economic sectors changed dramatically during the first decade of the twentieth century. Agriculture, which had been the nation's primary employer throughout the previous century, was gradually being replaced by industry. The United States was expanding its economic interests around the globe and emerging as a world power. This business expansion meant increased wealth as raw materials became cheaper to obtain, driving prices down and consumption up. Among the most prosperous businesses of the era were the oil, steel, textile, railroad, and food production industries. The decade was further marked by major technological innovations, such as the birth of the automobile and aviation industries. Americans who entered the century riding horse-drawn buggies could, by the end of its first decade, drive cars and dream of someday flying in a plane.