Vocabulary
Someone who uses or buys goods or services.
Consumer
What did George Washington Carver do for the people?
feed the growing population by finding ways to make products from peanuts and sweet potatoes.
What led to urbanization?
New inventions created job opportunities in cities
Where was the first skyscraper
Chicago, Illinois
A business owned by investors
corporation
free enterprise system
Funding from government and others made what happen quickly
technologies develop
How does demand for a product help the economy grow?
Supply has to increase created jobs/money
What does Urban mean?
city
Invention that sent messages by using electricity
telegraph
Money that is made after a business pays all it bills.
Profit
What inventor made everyday life brighter and safer
Thomas Edison
What is the name of the economic system that allowed people, like Andrew Carnegie to start their own business?
Free Enterprise
Who was Alexander Graham Bell?
invented the telephone
a place that makes products from oil
refinery
Someone who creates and runs a new business and takes on all the risks.
Entrepreneur
How did Julian Sprague's invention change transportation?
moved quicker
How did natural resources help the economy grow?
Oil refineries began to pop up thanks to John D. Rockefeller
What did Sholes invent?
typerwriter
growth of cities
urbanization
Product put together by workers moving down a line
Assembly Line
Americans wanted inventions that made what two things easier?
Tranportation and Communication
What did the impact of the growth of industry have on the economy?
It strengthened the economy
Who helped Edison improve the lightbulb?
Lewis Latimer
a company that has complete control over an entire industry
monopoly