US History Chapter 11: Lesson 1

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US History Chapter 11 Lesson 1

• A Growing Economy

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

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

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• The conditions for farming in ______________ were
  not good.

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• The conditions for farming in New England were
  not good.

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• A ___________________________ gives a person
  legal rights regarding an invention.

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

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

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

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

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

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• _____________________________________ led to the
  Industrial Revolution.

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

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

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• The factory system was a significant development
  in the way goods were made.

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• _____________________________ developed the
  system of interchangeable parts.

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• Eli Whitney developed the system of
  interchangeable parts.

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• The _________________________________ helped
  increase cotton production.

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• The cotton gin helped increase cotton production.

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• New industrial towns tended to develop along
  ____________________________________.

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• New industrial towns tended to develop along
  streams and rivers.

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Principles of the Free Enterprise System

• P____________________________
• E____________________________
• P____________________________
• C____________________________

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Principles of the Free Enterprise System

• Private Property
• Economic Freedom
• Profit
• Competition

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Principles of the Free Enterprise System

• P_____________________
• Owning property allows you to use your own
  capital (land, natural resources, or possessions)
  in a way that you can make money. Examples???

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Principles of the Free Enterprise System

• Private Property
• Owning property allows you to use your own
  capital (land, natural resources, or possessions)
  in a way that you can make money. Examples???

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Principles of the Free Enterprise System

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

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Principles of the Free Enterprise System

• Economic Freedom
• Being able to buy, sell, or produce whatever you
  want.

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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.

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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.

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Principles of the Free Enterprise System

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

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Principles of the Free Enterprise System

• Competition
• Competition between companies helps keep cost
  down and quality up for the consumer.
• Examples???

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Principles of the Free Enterprise System

• Private Property
• Economic Freedom
• Profit
• Competition