Lesson 1 Vocab
a part of a machine or device that can be replaced by another, identical part
Interchangeable Part
money or other items, such as machines or buildings, used to create wealth
Capital
to transfer control of something
Cede
People leaving their homes and farms to work in mills and collect wages is known as
These things encouraged people to invest in new industries
Low taxes, minimum gov't regulations, and competition
sole legal right to an invention and its profits
Patent
the official count of a population
Census
economic activity taking place between two or more states
Interstate commerce
This led to New England being the first country to start a industrial revolution
Geography
He explored a Native American trail through the Appalachian Mountains, called the warrior path
Daniel Boone
a machine that removes seeds from cotton fiber
Cotton gin
road on which tolls are collected
Turnpike
rivalry based on the special interests of different areas
Sectionalism
this person invented the cotton gin
Eli Whitney
The state became a state of the U.S. in 1803
Ohio
economic system in which people and companies own the means of production
Capitalism
separate compartment in which water levels rise and fall in order to raise or lower boats on a canal.
Lock
a market where there is only one provider
Monopoly
This led to the high demand of enslaved workers
the demand for cotton
This improved transportation across rivers
Steamboats
a type of economy in which people are free to buy, sell, and produce whatever they want
Free Enterprise
An artificial waterway
Canal
Amazon is a example of what type of business
Monopoly
This was passed by Congress to protect the rights of Inventors
Patents
After the war of 1812 the country was now feeling a sense of unity this was known as
The Era of good feelings