Understanding the Market Revolution Unit 4 Notes Text

Understanding the Market Revolution Unit 4 Notes (Text Support: Ch 9 Sec 1 – The Americans)

OBJECTIVE: Create a visual aid for your notes SLIDE 2 Life BEFORE Market Revolution SLIDE 1 Market Revolution Identifying what it is SLIDE 4 Long-Term BENEFITS of Market Revolution SLIDE 3 Life AFTER Market Revolution SLIDE 5 Long-Term NEGATIVES of Market Revolution

Summary of the Market Revolution • Late 1700’s-Early 1800’s • Revolution is CHANGE! • Changes in the marketplace and the way people do business • Marks the beginnings of the Industrial Revolution

Life BEFORE the Market Revolution • Local resources & raw materials • Most products made locally (farms, village craftsmen) • Most people lived entire lives on farms/villages

Life AFTER the Market Revolution • Trade increases access to resources/raw materials & new ideas • Entrepreneurs invent & innovate new technologies • Urbanization means people seek jobs in cities

Long-Term Benefits • Quality of life improves • Cheaper mass-produced goods • Consumer-oriented society

Long Term Negative Outcomes • Unskilled laborers replace skilled craftsmen • Lower wages, poor working conditions, pollution • Materialism of culture

Extension Activity • Q: Are we living amidst a new revolutionary age? • In a chart similar to the one created for the Market Revolution: • a. Identify what revolution we are experiencing, what it is that is changing, and what it means for the world at large • b. Explain what life was like BEFORE these changes • c. Explain the impact of these changes and how life is now different • d. Examine the long-term benefits of these changes • e. Examine the long-terms negative outcomes of these changes