US History Chapter 11: Lesson 1

US History Chapter 11: Lesson 1

US History Chapter 11: Lesson 1 A Growing Economy The period in history when many people left

their homes and farms to work in mills was called the _____________________. The period in history when many people left their homes and farms to work in mills was

called the Industrial Revolution. The conditions for farming in ______________ were not good.

The conditions for farming in New England were not good. A ___________________________ gives a person legal rights regarding an invention.

A patent gives a person legal rights regarding an invention. __________________________________

developed rapidly in the 1830s when legal obstacles to their formation were removed. Corporations developed rapidly in the 1830s when legal obstacles to their formation were

removed. Unnecessary extras such as libraries, museums, and a variety of shops were ______ in plentiful supply in rural America in the 1800s.

Unnecessary extras such as libraries, museums, and a variety of shops were NOT in plentiful supply in rural America in the 1800s.

_____________________________________ led to the Industrial Revolution. New machines and new technology led to the Industrial Revolution.

The __________________________________ was a significant development in the way goods were made.

The factory system was a significant development in the way goods were made. _____________________________ developed the system of interchangeable

parts. Eli Whitney developed the system of interchangeable parts.

The _________________________________ helped increase cotton production. The cotton gin helped increase cotton production.

New industrial towns tended to develop along ____________________________________ .

New industrial towns tended to develop along streams and rivers. Principles of the Free Enterprise System

P____________________________ E____________________________ P____________________________ C____________________________

Principles of the Free Enterprise System Private Property Economic Freedom Profit

Competition Principles of the Free Enterprise System Owning property allows you to use your own

capital (land, natural resources, or possessions) in a way that you can make money. Examples??? P_____________________

Principles of the Free Enterprise System Owning property allows you to use your own capital (land, natural resources, or possessions) in a way that you can make

money. Examples??? Private Property Principles of the Free Enterprise System

Being able to buy, sell, or produce whatever you want. E___________________________ Principles of

the Free Enterprise System Being able to buy, sell, or produce whatever you want. Economic Freedom

Principles of the Free Enterprise System P___________________ In a free enterprise economy, you get to keep the money your business earns. This money

is called profit. Principles of the Free Enterprise System Profit

In a free enterprise economy, you get to keep the money your business earns. This money is called profit. Principles of

the Free Enterprise System C_____________________ Competition between companies helps keep cost down and quality up for the consumer. Examples???

Principles of the Free Enterprise System Competition Competition between companies helps keep

cost down and quality up for the consumer. Examples??? Principles of the Free Enterprise System

Private Property Economic Freedom Profit Competition

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