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Ch. 10 section 1

History vocabulary

TermDefinition
free enterprise the freedom of private businesses to operate competitively for profit with minimal governmental regulation
capital money for investment
capitalism an economic system based on private property and free enterprise
factory system system bringing manufacturing steps together in one place to increase efficency
patent a document that gives an inventor the sole legal right to an invention for a period of time
interchangeable parts uniform pieces that can be made in large quantities to replace other identical pieces
cotton gin a machine that removes seeds from cotton fiber
contribute help to cause an event or situation
element one part of a larger part
Created by: mshellabarger