Identify the contributions of john deere and cyrus mccormick to the expansion of the market economy in the united states.
Question: Identify the contributions of john deere and cyrus mccormick to the expansion of the market economy in the united states.
John Deere and Cyrus McCormick were two American inventors who made significant contributions to the expansion of the market economy in the United States.
John Deere invented the steel plow in 1837. This plow was much more efficient than the traditional cast iron plows, which could not easily break through the tough prairie sod. The steel plow allowed farmers to cultivate more land and produce more crops. This led to an increase in agricultural production and a decrease in the cost of food.
Cyrus McCormick invented the mechanical reaper in 1831. This reaper allowed farmers to harvest wheat much more quickly and efficiently than before. This led to an increase in wheat production and a decrease in the cost of wheat. Wheat was a major export crop for the United States, so the mechanical reaper also helped to boost the American economy.
Both the steel plow and the mechanical reaper were important technological advances that helped to make the American agricultural sector more efficient and productive. This increased agricultural production led to a decrease in the cost of food and other agricultural products. This made these products more affordable for consumers, which boosted the American economy.
In addition to their contributions to the agricultural sector, Deere and McCormick also helped to expand the American market economy in other ways. For example, their inventions created new jobs in the manufacturing and transportation industries. They also helped to create new markets for American agricultural products.
Overall, John Deere and Cyrus McCormick were two of the most important inventors in American history. Their contributions to the expansion of the American market economy were significant.
Here are some specific examples of how Deere and McCormick's inventions helped to expand the American market economy:
- Increased agricultural production: The steel plow and the mechanical reaper allowed farmers to produce more crops with less labor. This led to an increase in the overall supply of agricultural products.
- Decreased food prices: The increase in agricultural production led to a decrease in the cost of food. This made food more affordable for consumers and freed up more of their income to spend on other goods and services.
- Increased demand for other goods and services: The increase in disposable income led to an increase in demand for other goods and services, such as clothing, furniture, and transportation. This boosted the American economy overall.
- New jobs in manufacturing and transportation: The steel plow and the mechanical reaper created new jobs in the manufacturing and transportation industries. These jobs helped to grow the middle class and boost the American economy.
- New markets for American agricultural products: The increase in agricultural production led to the creation of new markets for American agricultural products. This helped to boost the American economy and strengthen its ties with other countries.
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