Chapter 10: Growth and Expansion
Section 1: Economics Growth
I.
Name:
The Growth of Industry
a. Most Americans had worked on _____________ up until the early 1800’s
i. Most products were _____________________ but tools were a great help
b. The Industrial Revolution
i. Beginning in Britain, people began inventing ____________________
ii. Machines = Less _____________ BUT more ___________________
iii. Mills: ____________________________________________________________
1. Where:_______________________________
II.
2. Why:_________________________________
Industrial Revolution in America
a. 1800: ____________________ became the first site of this revolution in America
b. Four Reasons:
i. _____________________________________________________________
ii. _____________________________________________________________
iii. _____________________________________________________________
III.
iv. _____________________________________________________________
New Technology
a. New Technology helped these mills/factories grow and be more efficient
Spinning Jenny
IV.
Cotton Gin
Interchangeable Parts
b. All of these things made it so mills made things faster, cheaper, and more available.
Patents and Factories
a. Patent Law:
___________________________________________________________________________
i. This encouraged people to create new machines that were faster and more
efficient…WHY:_______________________________________________________
ii. Britain tried to keep its industrial methods a ______________ but the ideas slowly
leaked in the U.S.
iii. Samuel Slater memorized British machine set-ups and brought the ideas here
b. Factory System:
___________________________________________________________________________
i. Francis Cabot Lowell opened a huge textile (cloth) factory under this system and it
was greatly successful
V.
Free Enterprise
a. _______________ growth requires an ________________ system that allows
_______________ to flourish with little gov't _________________
b. American Economic System: Capitalism:
i. Individuals
ii. Invest capital (money) ______________
iii. They hope business will _________________
iv. Goal: to make ________________
c. When you mix Capitalism with the American idea of freedom you get:
i. ____________
______________________:
1. People free to buy, sell, and produce whatever they want
2. People can ___________ wherever they want
3. Competition is welcomed. Forces people to make better ______________
4. The main goal: _________________
5. People expect to find the best product for the cheapest prices so this
encourages businesses to compete to produce the best/cheapest product