Chapter 22 Industrial Revolution Vocab Flashcards
Inventor of the Cotton Gin
Eli Whitney
Patented the first modern steam engine
James Watt
Created the morse code
Samuel Morse
Planting different crops each year.
Crop Rotation
The spinning mill started the what
Factory System
When power driven machines began to much of the work that people had done before.
Industrial Revolution
Use of automatic machinery to increase production
Mechanization
Cramped, shabby apartments where workers lived during the Industrial Revolution
Tenements
Economic system in which individuals, instead of the government control the factors of production
Capitalism
Complete control of the production or sale of a single good or service.
Monopoly
Alternating periods of prosperity and decline
Business Cycle
founder of Ford
Henry Ford
Founder of the United States steel company
J.P. Morgan
Belief that government should not interfere with the operations of business.
Laissez-Faire
System in which economic forces work automatically and naturally, without mercantilism law and regulations
Free Enterprise