Chapter 11 Flashcards
Where did the Industrial Revolution begin in America?
New England
What was the change from an agrarian society to one based on industry?
The Industrial Revolution
What is capitalism?
The Economic System of the US where individuals put capital into a business in hopes of making a profit
What is money used for an investment?
Capital
What is a system where people are free to buy, sell, and produce what they want and can work where they wish?
Free Enterprise System / Free Market System
What sets the prices of goods in a free enterprise system?
Supply & Demand
What is technology?
Scientific discoveries that simplify work.
What gives inventors legal rights to their inventions?
Patents
Who invented the Cotton Gin?
Eli Whitney
Who opened the first textile mill in the US?
Samuel Slater
What happened to demand for cotton as a result of textile mill growth in New England?
It went up
What was the cause of the growth of cities and towns in the North?
The growth of factories.
What is the difference between urban and rural?
Urban - Cities
Rural - Country
How did Pioneers usually migrate west?
as families
What were the three things necessary for Western Expansion in the United States?
Roads, Steamboats, and Canals