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Economics

Unit 4 Economics

TermDefinition
barter to trade
agrarian a farming economy
Industrial Revolution went from making things by hand to using machines
demand the amount of goods consumers are willing to buy
supply the amount of goods producers are willing to make
economy a system of money
technology tools that make life easier
plantation a large farm with surplus crops that used slave labor
mercantilism economic system to benefit the mother country
market place where goods are bought & sold
Eli Whitney invented the cotton gin & interchangeable parts
cotton gin removed seeds from cotton
Henry Ford introduced the assembly line
Samuel Morse invented the telegraph
Alexander Graham Bell invented the telephone
textiles & farming two industries affected by Industrial Revolution
causese of the Great Depression stock market crash & overproduction
Created by: srafinney
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