Chapter 11 Flashcards
What was the change from an agrarian society to one based on industry?
Canals are artificial waterway
Where did the Industrial Revolution begin in America?
Britain to the United States
What is capitalism?
economic and political system in which a country’s trade and industry
What is money used for an investment?
Cost is set by supply and demand in a free enterprise system
What is a system where people are free to buy, sell, and produce what they want
and can work where they wish
Prices/cost is set by supply and demand in a free enterprise system
What sets the prices of goods in a free enterprise system?
Competition,profit,private property,economic freedom
What is technology?
the application of scientific knowledge for practical purposes, especially in industry.
What gives inventors legal rights to their inventions?
Patent give investors legal rights to the inventon
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
As textile mils were growing in New England, demand for cotton grow
What was the cause of the growth of cities and towns in the North?
The growth of factories in the north also results in the growth of cities and towns
What is the difference between urban and rural?
Rural or urban depending on the density of human created structures and residents people
What were the three things necessary for Western Expansion in the United States?
Roads,steamboat, canal
Who led a failed expedition into Kentucky, but wrote journal writings that would
help future explorers settle there
William Blount
Who was the first permanent European settler in modern day Tennessee?
Daniel Boone