Which term describes the economic shift where people began to buy and sell goods instead of making them for personal use?

The economic shift where people began to buy and sell goods instead of making them for personal use is best described as the Market Revolution. This period, primarily occurring in the early 19th century, marked a significant transformation in the American economy as it transitioned from local or subsistence farming to a more interconnected market system.

The Market Revolution was characterized by advancements in transportation, such as the construction of canals and railroads, which facilitated the movement of goods and raw materials across longer distances. It also saw the rise of new manufacturing processes, which centralized production in factories and increased the availability of consumer goods. As a result, individuals started to engage more with the market, buying goods produced elsewhere rather than relying solely on personal production for their needs.

While the Industrial Revolution refers to the broader transition to industrial manufacturing and technology, it is encapsulated within the larger framework of the Market Revolution. The Commercial Revolution generally pertains to the expansion of trade networks and the development of a global economy, while the Financial Revolution focuses more on changes in finance and banking systems. Ultimately, the Market Revolution specifically highlights the shift in consumer behavior and economic practices that defined this transformative era in American history.