Focus: Understanding Economics in U.S. History - Lesson Details
Lesson 11: How Did Cotton Become King? The Economics of Cotton and Everything Else.
The students examine a series of visuals to learn how supply and demand analysis can be used to examine the change in cotton production in the American South. They construct graphs showing supply, demand and the market price of cotton. Then they construct a graph showing a change in demand. While growth continued, the American South experienced serious economic setbacks in the years following independence. Cotton appeared to be the hope of the future. Changes in technology in the South, particularly the cotton gin, and changes in textile technology and demand in Great Britain resulted in cotton becoming "King" in the American South.
Demand, Price, SupplyNational Content Standards in Economics: