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The invention of the cotton gin by American inventor Eli Whitney, combined with the widespread prevalence of slavery in the United States and U.S. settler expansion made cotton potentially a cheap and readily available resource for use in the new textile industry.
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
The United States Department of Commerce and Labor was a short-lived Cabinet department of the United States government, which was concerned with fostering and supervising big business. It existed from 1903 to 1913. The United States Department of Commerce is its successor agency, and it also is the predecessor of the United States Department ...
American business history is a history of business, entrepreneurship, and corporations, together with responses by consumers, critics, and government, in the United States from colonial times to the present. In broader context, it is a major part of the Economic history of the United States, but focuses on specific business enterprises.
The Atlantic triangular trade formed a major component of the colonial American economy, involving Europe, Africa and the Americas.The primary component of the transatlantic triangular trade consisted of slave ships from Europe sailing to Africa loaded with manufactured goods; once the ships arrived at African shores, the European slavers would exchange the goods aboard their ships for ...
The United States Travel Service was established by the United States Secretary of Commerce on July 1, 1961, pursuant to the International Travel Act of 1961 (75 Stat. 129; 22 U.S.C. 2121 note) [5] The Economic Development Administration was created in 1965. In 1966, the Bureau of Public Roads was transferred to the newly created Department of ...
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale distribution and transfer (exchange through buying and selling) of goods and services at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local ...
The economic history of the United States began with British settlements along the Eastern seaboard in the 17th and 18th centuries. After 1700, the United States gained population rapidly, and imports as well as exports grew along with it. Africa, Asia, and most frequently Europe, contributed to the trade of the colonies. [91]