Final answer:
The development of steel, oil, transportation, communication, and business practices had a significant impact on the US economy, facilitating industrial growth, improving communication, and driving trade and commerce.
Step-by-step explanation:
The development of steel, oil, transportation, communication, and business practices had a significant impact on the US economy. Steel production allowed for the construction of large structures and the growth of industries such as railroads and automobiles. Oil production fueled the transition from a coal-based economy to one driven by petroleum, leading to the expansion of industries like glass, steel, and rubber processing. Transportation infrastructure, including the railroad and roadways, facilitated the movement of goods and people, boosting trade and commerce.
Communication technologies like the telegraph and telephone improved the speed and efficiency of communication, enabling faster business transactions and connections between individuals. Business practices, including the corporate framework and innovations like the assembly line, helped increase productivity and optimize production processes. These developments collectively contributed to the growth and transformation of the US economy.