Types of Economies
What type of economy uses both command and market economy principles?
Mixed
Native American’s had a strong sense of what?
Who was this individual?
Andrew Carnegie
Who created the Cotton Gin?
Eli Whitney
What president oversaw the only time in American history that the debt of the United States was $0?
Andrew Jackson 1000
Native Americans and tribes across the world have long used this type of economy.
Traditional
What specific luxury good did Europeans focus on finding in the America’s?
Gold
What individual helped perfect the first American assembly line?
Henry Ford
What year did the Industrial Revolution begin?
1760
What kind of economy is seen most often at the control of dictatorships?
Command
What were one of the main products slaves were brought to the New World for?
Cotton or Sugar
Who is one of the wealthiest Americans all time and was born in Richford, NY?
John Rockefeller
What year did the United States Civil War begin?
1861
This kind of economy is seen as free and full of individual choice.
Market
What economic practice or job takes up a ton of space and water?
Farming
What company laid off thousands of works in central Pennsylvania in the 1970’s?
Bethlehem Steel
What President oversaw the implementation of the New Deals?
FDR
What type economy is used by the United States and Canada?
Market
What was the age that saw increased corruption, new inventions, and vast wealth?
Gilded Age
Who is currently the wealthiest person in the world?
Elon Musk
What year did the Great Depression begin?
1929