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What is Free Enterprise?
The idea that we are free to make what we want, when we want, and for how much we want to sell it
What is Capitalism?
The idea that people can put up money to get a business going in the hopes of making a future profit
Who was Andrew Jackson?
Controversially, he entered Florida without permission from the US Government. Would later become president.
Who was Robert Fulton?
Creator of the practical steam engine used in steamboats
Who invented the cotton gin?
Eli Whitney
What was the Clermont?
A steamship created by Robert Fulton
Define Marbury vs. Madison
Established judicial review. Made the judicial branch just as powerful as the legislative and executive branches.
Who was James Monroe?
Fifth president of the United States
What is the Monroe Doctrine?
In 1823 Monroe stated that no new European nation could colonize the Americas or else they would have to deal with the U.S.
What was an unintended consequence of the cotton gin?
More slaves were needed
What are Corporations?
Companies that sell stock to investors to make a profit
What was the Missouri Compromise?
Created to keep the balance of power equal in Congress between slave states and free states. It was agreed that Missouri would become a slave state and Maine would become a free state.
Who was John Calhoun?
Sectionalist leader of the South
Who first started the factory system in the United States?
Francis Cabot Lowell
Who oversaw the creation of the Erie Canal?
DeWitt Clinton
What are Interchangeable Parts?
creating mass numbers of a part and then putting it together later
Define the Era of Good Feeling
A period of time in U.S. history with no major political conflicts and no foreign conflicts from 1815 to 1825.
Who was Henry Clay?
Sectionalist leader of the West
What was the name of the revolution that changed the way people worked and where did it start in the U.S.?
Industrial Revolution that started in New England
What are the major elements of Free Enterprise?
Competition, profit, private property, and economic freedom
What is the Patent System?
Inventors register their inventions and have the right to all the profits for a specific period of time
Define Sectionalism
Being loyal to the region you’re from (West, North, South)
Who was Daniel Webster?
Sectionalist leader of the North
Where did the Industrial Revolution start originally?
Great Britain
How did the Industrial Revolution in the U.S. help speed up the growth of major cities?
More people began to leave farms to move to cities for work. Cities became overcrowded, polluted, and unsanitary.