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MATES US History 1, Holland 2024
Market Revolution
major changes in the US economy produced by people buying and selling goods rather than being self sufficient
specialization
farmers shifted from self-sufficiency; started to raise one or two cash crops
capitalism
economic system in which private businesses and individuals control the means of production
entrepreneurs
investors that risked their own $ in new industries; from the French word “to undertake”
telegraph
device for the electrical transmission of coded messages; patented by Samuel Morse
Samuel Morse
invented the telegraph
John Deere
invented the 1st steel plow; replaced oxen with horses
Cyrus McCormick
invented the mechanical reaper (did the work of 5 men harvesting wheat)
