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industry was booming because of war profits
Slaves
What was one of the most important differences between the northern economy and the southern economy? The northern economy was industrially based. The Southern economy was agriculturally based.
The industry contributes to the national economy by creating things for consumption.
Not sure what you mean by a 'market economy'. The Northern factories and farms were able to supply the Union armies with everything they needed, whereas the South only had its one industry - cotton, which it couldn't export in exchange for war supplies because of the blockade.
industry was booming because of war profits
industry was booming because of war profits
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The southern economy depended largely on agriculture. The northern economy depended mainly on industry as its means of support. This led to the development of two different cultures.
Slaves
northern economy was based on manufacturing
It didn't suit manufacturing industry. Factory bsses preferred mobile free labour.
The southern economy depended largely on agriculture. The northern economy depended mainly on industry as its means of support. This led to the development of two different cultures.
The southern economy depended largely on agriculture. The northern economy depended mainly on industry as its means of support. This led to the development of two different cultures.
The southern economy depended largely on agriculture. The northern economy depended mainly on industry as its means of support. This led to the development of two different cultures.
The southern economy depended largely on agriculture. The northern economy depended mainly on industry as its means of support. This led to the development of two different cultures.
The northern economy was industrial and focused on manufacturing, while the southern economy relied on agriculture, particularly cotton production. This led to differences in lifestyle, values, and societal structure between the regions, ultimately contributing to the development of distinct cultural identities in the North and the South.