Vocabulary
someone who buys or used goods or services
consumer
people are free to start their own business or do whatever work they want
free enterprise
Who helped feed the nation by developing many products from peanuts and sweet potatoes
George Washington Carver
What led to urbanization?
new inventions
What was Thomas Edison's nickname and why?
Wizard of Menlo because of his so many inventions
a device that sent little bursts of electricity to send messages
telegraph
people who create and run a new business and take on all the risks of that business
entrepreneur
What allowed new technologies to develop quickly in the mid 1800's
funding
How does an economy grow?
When supply has to increase to keep up with demand
What turns oil into useful products?
refinery
someone who puts money onto a business to make a profit
investor
business owned by investors
corporation
Thomas Edison's inventions made everyday life _________ and ___________
safer and brighter
What helped the economy grow by allowing companies to produce goods at a lower cost
Natural Resources
What was the name of the Island immigrants were sent to when they came to the U.S.?
the money earned after a business pays all its bills
profit
a share of a company that you can buy
stock
Julian Sprague invented what?
Streetcar
What major problems did the growth of industry cause?
pollution, over populated cities
What product made Pittsburgh, Pennsylvania a booming city?
Steel
the growth of cities
urbanization
a product is put together as it moves along a line of workers
assembly line
What two areas did people in the mid 1800's want to improve on?
transportation and communication
What is a company that controls an entire industry called?
monopoly
Who owned the steel mills in Pittsburgh in the mid 1800's?
Andrew Carnegie