9.1: The Market Revolution
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MATES US History 1, Holland 2024
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8 Terms
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)
