Chapter 11 Growth And Expansion Flashcards
What is capitalism?
Individuals put their 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 work where they wish?
Free Enterprise/Free Market
What sets the prices of goods in a free enterprise system?
Supply and 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?
Demand for cotton grew
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 is city and Rural is country
What were the three things necessary for Western Expansion in the United States?
~Roads
~Steamboats
~Canals
Who led a failed expedition into Kentucky,but wrote journal writings that would help explorers settle there?
Dr.Thomas
Who was the first permanent European settler in modern day Tennessee?
William Bean
Why was the Cumberland Gap important to the Wilderness Road?
Allowed for a path to be created that made passing the Appalachian Mountains easier