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12 Cards in this Set
- Front
- Back
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Industrial revolution |
The change from an agrarian society to one based on industry which began in Great Britain and spread to the United States in around 1800 |
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Capitalism |
Individuals put the capital or money into a business in hopes of making a profit |
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Capital |
Money |
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Free enterprise |
Another term used to describe the American economy |
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Technology |
Scientific discoveries that could simplify work |
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Eli Whitney |
From Massachusetts created cotton gin |
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Cotton gin |
A simple machine that quickly and efficiently removed seeds from cotton fiber |
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Patent |
Gives an inventor the sole legal rights to the invention and it's profits for a certain period of time |
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Samuel Slater |
Had worked in a factory that used machines invented by Richard Arkwright for spinning cotton thread. Memorized structure moved to America and made his own |
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Francis Cabot Lowell |
Opened a textile plant in Waltham, Massachusetts |
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Factory system |
A system that brought manufacturing steps together in one place to increase efficiency |
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Interchangeable parts |
These were identical machine parts that could be put together quickly to make a complete product |
