About This Chapter
History of American Economics - Chapter Summary
If you wish to understand American history, it's extremely important that you understand the history and development of economic systems in the United States. To this end, you can watch the video lessons contained in this chapter for helpful and informative instruction on these topics.
The lessons will provide you with an overview of the basics of the American economic system as well the specific systems found in different regions of the country. You will then go over some historical developments in American economics and explore specific issues that influenced the country's economy. Watch these lessons to learn about:
- The American free enterprise system
- The regional impact of the market economy
- Factory systems, and the movement of goods and people
- Northern economic developments
- The economy of the south
- Cotton and the slave trade
Our instructors will share their specific expertise with you when going through all of these topics. The chapter provides you with practice quizzes that you can use to test your knowledge of some of the points you went over in the lessons. As you learn more about these kinds of topics, you can track your progress by using your personal Dashboard.
1. Development of the U.S. Free Enterprise System
In this lesson, we'll examine the development of the American free market economic system. We'll trace the ideological roots of this system, and we'll learn what steps were taken to implement free enterprise economics in the early American Republic.
2. The United States' Market Economy Impact on Its Regions
After watching this video, you will be able to explain what a market economy is, how the US economy works, and describe some of the regional economies of the US. A short quiz will follow.
3. Impact of Resources on the Movement of Products, Capital & People in the U.S.
After watching this video, you will be able to explain how the natural resources of the United States affected the movement of products, capital, and people throughout history. A short quiz will follow.
4. American Industrialization: Factory System and Market Revolution
New agricultural technology revolutionized the North, South and West. In this lesson, learn how that technology ushered in the Market Revolution in America.
5. Economic Developments in the North: A Commercial Revolution
In the Antebellum Era, the Northern part of the United States was revolutionized by a series of innovations, triggering a shift from an agricultural to a commercial economy. These economic changes sharpened the differences between North and South.
6. Life in the South: Ordered Society and Economy of the Southern States
While the North was urbanizing and industrializing, the South became more committed to its rural, leisurely lifestyle and its agricultural economy built on slave labor. Limited industry did exist, but cotton was king!
7. Slavery in America: Cotton, Slave Trade and the Southern Response
The United Sates was conceived on the idea of freedom and the rights of all people, but early on, an institution took hold that was the exact opposite of that idea. In this lesson, find out the roots of slavery in the States, how it took hold, how slaves lived, and how they resisted the bonds of slavery.
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Other chapters within the STAAR Social Studies - Grade 8: Test Prep & Practice course
- European Exploration & Colonization in America
- The Revolutionary Era
- Important People of the Revolutionary War
- Early American Government
- Jacksonian America
- Westward Expansion in America
- Sectionalism in the U.S.
- The American Civil War Era
- Famous Addresses of the American Civil War
- Significant Civil War Era Figures
- The Reconstruction Era After the American Civil War
- American Geography Overview
- History of American Immigration
- Defining American Culture
- History of American Arts
- Principles of American Government
- Origin of Self-Government
- U.S. Supreme Court Cases & Decisions
- American Citizenship Overview
- American Political Parties & Interest Groups
- American Leadership & Contributions
- Impact of Science & Technology on American Society
- Social Studies Skills
- About the STARR Tests
- STAAR Social Studies - Grade 8 Flashcards