Page 40 - Key to Social Studies 6

Let’s Observe Let’s Connect

A Closer Look at Two States in the USA The United States’ Economy Then and Now

Massachusetts State
The United States’ Economy in the 19 and 20 Centuries
th
th
Massachusetts is the most populated
In the 1800s, the economy of the United States was centered around farming, with 80% of the
state in the Northeastern region of the
population working in agriculture.
US. It is bordered by the Atlantic Ocean
During the late 1800s, due to the continuous increase of people joining the farming industry, it became
to the east, Connecticut and Rhode
th
saturated. Due to the Industrial Revolution in the late 18 century and the early 19 century, the United
th
Island to the south, New Hampshire and
States’ focus shifted from farming and agriculture to the manufacturing and services industries. However,
Vermont to the north, and New York to
th
by the 20 century, a nation-wide economic depression, a period in which there is very little business
the west.
activity and not many jobs, occurred because the economy could not handle that sudden change.
80% of the population of Massachusetts
st
The United States’ Economy in the 21 Century
live in Boston, which is known for having
st
During the 21 century, the United States almost recovered from the periods of economic depression it
leading roles in education and history
su ered. People started paying back their debts, for the rst time in years, and the households, GDP
today. Massachusetts has one of the
Harvard University Historic Building (Gross Domestic Product), which is the total value of goods and services produced by a country in a year,
most popular and advanced universities in Massachusetts, USA
and most of the other economic aspects also start to recover. The US public debt, or how much the
in the world, Harvard University.
th
country owes to lenders, is ranked the 34 worldwide; however, the US external debt, or how much the
Michigan State
st
country owes to creditors, is ranked the 1 worldwide.
th
Michigan is ranked the 10 most
populated state in the US. It is known for

the Great Lakes. Michigan’s name Cotton plantation on the Mississippi River

originally means large water or large lake.

Detroit is the capital of Michigan, and

also the home of its biggest industry,

automobile. General Motors, Ford Motor

Company, and Chrysler Automobiles are

all located in Detroit.
The building of Ford Motor Company headquarters
in Michigan, USA

38