Growth and Expansion Flashcards
Cotton gin
a machine that removes the seeds from cotton fiber
Interchangeable Parts
a part of a machine or device that can be replaced by another part just like it
Patent
legal rights to an invention and its profits
Capitalism
economic system in which people and companies control production
Free Enterprise
a type of economy in which people are free to buy, sell, and produce whatever they want
Census
the official count of the population
Turnpike
a road on which tolls are collected
Canal
waterway made by people
Lock
a separate compartment in which water levels rise and fall in order to raise or lower boats
Sectionalism
rivalry based on the special interests of different areas
Monopoly
a market where there is only one seller
Interstate commerce
economic activity taking place between two or more states
Eli Whitney
invented the cotton gin
Developed interchangeable parts
capitalists
dumping