8 - 19:22 GrowthinOutput

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19:22 Growth in Output Especially for grain production (table 15.2): ^ total output and ^ total acreage o Output per acre (land productivity); little or no increase Corn – slight decrease in land productivity 1870-1910 Wheat – slight increase in land productivity 1870-1910 Increased acreage due to. . o Increased use of capital (reapers, steel plow, thresher) o Increased labor productivity (output per worker) > 1850-1900: 2.6%  increase per year on average in labor productivity Note: Increases in output also due to biological innovations: o New plant varieties and hybrids o Methods of combating insects and plant disease Most of this innovation in farming came after 1920 1860-1920: # of people fed per farmer almost doubles (further evidence of ^ labor  productivity) Growth of export market Regional Specialization  Map 15.1: geographic distribution of major crops – The choice of Growth of  “National Markets” o The choice of regional specialty reflected:
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o 1. Factory endowments by region o 2. Decreased transportation costs Specialization,  comparative advantage gains from trade o Relatively lower opportunity cost o Trade is mutually beneficial when based on specialization acc to  comparative advantage in other words  ^ total surplus ^ societal welfare Increased specialization made farmers less self sufficient. They became: More reliant on markets o Consumer goods Capital (farm machinery) Land (avg farmsize ^)
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8 - 19:22 GrowthinOutput

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