Answer:
1. Explain the benefits of the invention of the cotton gin.
The economic benefits of the cotton gin were that it reduced costs and increased productivity. Since the costs of separating the seeds from the rest of the cotton decreased substantially, the profitability of growing cotton increased a lot. This resulted in cotton being the number 1 crop in America, specially in the southern states and it boosted the economy of southern states.
2. Explain the drawbacks, or negative consequences, of the invention of the cotton gin.
Since growing cotton became extremely profitable, this led to an increase in the number of slaves employed in its production. The market price of cotton decreased due to the increase in supply, which also favored big plantation producers (slave owners) and hurt smaller farmers.