Question

Economics

1. Explain the impact of steamships on economic development.

2. Explain the impact of railroads on economic development.

3. Explain the impact of telegraphs on economic development

Answer 1

1. Steamships has positive impact on economic development. It made easier routes for traders so now trading increase also it made easier routes for travelers by water which leads to increase the economic activity and trading, which leads to increase the economic growth so improves economic development.

2. Railroads powered a growing economy. They allowed businesses to get materials at a faster pace and delivered goods all over the U.S., including out West, which increases economic development.

3. The telegraph helped to integrate the economy, forging a national economic system. It helps to make instant contact with distant areas possible which improve the connectivity and so economic development.