Chapter 11

Question 1

What was the change from an agrarian society to one based on industry?

Answer 1

Industrial revolution

Question 2

Where did the Industrial Revolution begin in America?

Answer 2

New England

Question 3

What is capitalism?

Answer 3

The Economic system of the US

Question 4

What is money used for an investment?

Answer 4

Capital

Question 5

What is a system where people are free to buy, sell, and produce what they want
and can work where they wish?

Answer 5

Free Enterprise

Question 6

What sets the prices of goods in a free enterprise system?

Answer 6

Supply and demand

Question 7

What is technology?

Answer 7

Scientific discoveries that simplify work

Question 8

What gives inventors legal rights to their inventions?

Answer 8

Patents

Question 9

Who invented the cotton gin

Answer 9

Eli Whitney

Question 10

Who opened the first textile mill in the US

Answer 10

Samuel Slater

Question 11

What happened to demand for cotton as a result of textile mill growth in New England

Answer 11

Demand for cotton grew