Flashcards in Chapter11- Deck (15):
What was the change from an agrarian society to one based on industry?
Where did the Industrial Revolution begin in America?
What is capitalism?
Individuals put their Capitol into a Bisnuess in hopes of making profit.
What is money used for an investment?
What is a system where people are free to buy, sell, and produce what they want
and can work where they wish?
Free enterprise/ Free market system
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?
Who invented the Cotton Gin?
Who opened the first textile mill in the US?
What happened to demand for cotton as a result of textile mill growth in New
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 a city.
Rural is a country.
What were the three things necessary for Western Expansion in the United States?