Tuesday, February 28th Please take out: Economic Terms 102-homework from last night so we can review

During the Antebellum period Georgia was a major gold producer. Georgia was created to produce agriculture for Spain’s economic system of mercantilism. 1. F; Georgia was created to produce agriculture for England’s economic system of mercantilism. During the Antebellum period Georgia was a major gold producer. 2. T; In 1838 a mint went into operation in Dahlonega which coined $100k worth of gold in the first year and 1.5 million gold coins worth $6 million before it closed. Blockade forced many of Georgia’s major cities to begin producing textiles and weapons. 3. T; Without the North’s manufactured goods, Georgia began developing methods to create their own. The Cotton Expositions were established to lure funding from other Southern investors. 4. F; The Cotton Expositions lured Northern investors. Coca Cola was invented in 1986 5. F; Coca Colas was invented in 1886 by Asa Candler. Delta Airlines began as a shipping operation in 1924. 6. F; Delta began as a crop dusting operation in 1924. The production B-29 Bombers and Liberty Ships contributed to Georgia’s economic growth after WWII. 7. T; The building of Liberty Ships and B-29 bombers created more than 60,000 jobs in Georgia. Agriculture is now the smallest sector of Georgia’s economy. 8. F; Despite the advancements in industry, agriculture still makes up the largest sector of the state’s economy.

11. Elberton is the granite capital of the world 9. Gainesville Georgia is known as the poultry capital of the world due to its large number of poultry processing plants. 9. T; On the average day in 2012, Georgia produced 29 million pounds of chicken and 11.8 million eggs. 10. Dalton is the carpet capital of the world. 10. T; The development of yardage machines, which could make tighter rows and wider widths, lead the industry toward the production of carpets and rugs.  11. Elberton is the granite capital of the world 11. T; Currently, more than 150 sheds and manufacturing plants turn rough blocks of granite extracted from 45 area quarries into finished memorials, markers, and mausoleums that are shipped all over the world. 12. AFLAC, UPS and Waffle House established in Georgia. 12. T; Also- DELTA, Chick fila, Coke, and many more. 13. Profit is the motivating factor for an entrepreneur to develop a new business. 13. T; Other benefits include being your own boss and working hours for yourself opposed to someone else. 14. Over 25% of all businesses fail within in their first five years. 14. F; Over 50% of all businesses fail within their first five years. 15. Loss of time and money are entrepreneurial risks. 15. T; These are just a few of many risks entrepreneurs take. 16. Ted Turner, Truett Cathy, Alonzo Herndon are all Georgian entrepreneurs 16. T; CNN, Chick fil a, Atlanta Mutual Life Insurance Company

-Training camps for WWI -Atlanta Mutual Life Ins Era Goods Services Historical Reason/Purpose Impact/Change on Economy Colonial Period and Early Statehood   Antebellum Period and Civil War Reconstruction and Early 1900’s 20th Century Grapes Indigo Mulberry Trees Wine Silk Rice Tobacco -No machinery, so agricultural based -Silk clothes sign of wealth -Water quality was poor, so wine was needed. -Cotton gin increased demand for cotton and slaves -Georgia’s economy flourished -Silk and wine production were not successful, so moved towards other products that were successful in neighboring colonies -indigo most long term success -wine making -blue dye making -silk production RR to distribute cotton Mills and Textiles industries created to make cotton products. -RR established -Made Georgia a target for Sherman Textiles Cotton -Still based on agriculture -Mills made WWI uniforms -Temperance lead to the development of Coke -boll weevil and drought destroyed cotton crops -economy was too dependent on cotton; turned to other sources -Cotton, corn, wheat -Granite -Naval Stores ( turpentine, rosin, lumber) pine products -Coke -Training camps for WWI -Atlanta Mutual Life Ins -Technology developing -Textile Mills grew due to Northern investment brought by Cotton Expos -Slaves are freed, but still farm -Delta Airlines 1924 -Chickfila 1946 -Waffle House 1956 -Home Depot 1979 -Film Industry -Tourism -Boll Weevil and drought moved economy away from cotton. -more engaged in industry than agricultural than ever before -New Deal Provided jobs and recovery -WWII produced goods -Georgia Pacific (1927) -B-29 Bomber/Lockheed Martin

Georgia’s Vanishing Farms Industrial Growth After WWII

Define or describe what it is Synthetic Fibers   Define or describe what it is How did it impact Georgia’s Farms? Did it impact other areas of the state? Synthetic Fibers *new man-made materials, including rayon *New fashions, such as the flapper dress, which used less fabric and synthetic fibers, decreased demand for cotton. *This and other factors pushed many small family farmers off their land. Many either moved into cities or became sharecroppers G.I. Bill (414, 424) Industry and manufacturing after WWII (413) Aviation(429) Changes in Farms themselves “Serviceman’s Readjustment Act” *low-cost loans to veterans who wanted to buy homes or start businesses *gave returning soldiers opportunity for a college education *changed job availability and heralded a new middle working class. *soldiers not returning to farms, rather to cities *Enrollment in colleges and universities went up *suburbs sprang up *economy was strong *baby boom started *military installations *Brunswick and Savannah shipyards *Warner Robins Air Force Base *Bell Aircraft Company (Marietta) *For the first time in the state’s history, more Georgians were employed in manufacturing rather than agriculture *Georgia ended this decade as a major industrial state. *Some of Georgia’s most prosperous years. *Georgians were leaving farms to seek industrial jobs to make a better living for their families and to serve their country in any capacity they could *Lockheed was the state’s largest employer *1943, Bell Aircraft Company assembled B-29 bombers for the Air Force. Largest facility in the Deep South, over 4.2 million sq. ft. Over 28,158 employees finished 668 planes. *Migration to suburbs for jobs which increased population there and the economy. *Led to construction boom for houses and businesses *Farms and agriculture have continued to develop in terms of crops and machinery *Today Georgia is a leading producer of cotton, pecans, peaches, rye, tobacco, poultry and eggs. *Production of cotton and other products increased the need for textile mills and expanded population growth to urban areas

1. Which cause do you think had the greatest impact on the movement away from the farms? Why?

2. Which cause do you think had the least impact on the movement away from the farms? Why?

3. How did this decline in farming impact other areas of the state?

Business: List three events on the timeline that you believe had the greatest impact on the development of Georgia as a state. Justify your reasoning for each event. (Sample Answers) Due to Georgia’s mild climate, many corporation have developed or moved to the state. Some of these companies were established here in the late 1800’s like Rich’s/Macy, Coca-Cola, and Atlanta Mutual Life Insurance Other companies like Home Depot, Chick-fila, Georgia Pacific, and Delta have also developed in the state creating hundreds of thousands of jobs and boosting the state’s economy. The creation of professional sports teams has also contributed to economic growth in the state increasing tourism and job opportunities.

Transportation: List three developments in transportation that you believe had the greatest impact on the state. Explain how these events would impact population distribution (rural, urban), economy, and other areas of society. Justify your reasoning for each event. (Sample Answers) The development of the railroads in Georgia made Atlanta a railroad hub allowing for easier trade including the export of cotton. The development of the interstate highway system connected Atlanta to other major cities in the state like Marietta and Savannah to the rest of the nation. This contributed to urban sprawl and increased trade with trucking. Atlanta Hartsfield-Jackson Airport has become the nation’s largest international airport providing jobs, increasing trade, and connecting the state with the world. Atlanta has become a transportation hub for the southeast.

Agriculture: Explain the variability of our state’s agriculture over time. Name specific events or developments in history that would have contributed to these changes. Agriculture has consistently been a mainstay in Georgia’s economy and still is today. However, the amount of agricultural production has fluctuated due to major events in history including: Climate and arable soil Invention of the cotton gin Influx and then abolishment of slavery Boll weevil Drought Increase and development of industry