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What is "specialization" in economics?
Focusing on one specific task to increase efficiency
Economic interdependence means:
People rely on others to provide most goods and services
A share of ownership in a company is called:
Stock
A corporation is a company that:
Is owned by stockholders who share profits but not debts
Who is considered the father of capitalism?
Adam Smith
The term "laissez-faire" refers to:
Government staying out of business affairs
Who brought British textile technology to the U.S.?
Samuel Slater
What was a major effect of mass production?
Increased availability of goods
What made the assembly line effective?
The product moved from worker to worker
Industrialization in the U.S. grew rapidly after which event?
Civil War
The belief that the U.S. was destined to rule from coast to coast is called:
Manifest Destiny
Texas was annexed by the U.S. in:
1845
Which war led to the U.S. gaining the Southwest and California?
Mexican-American War
Which region of the U.S. relied heavily on slave labor and cash crops?
South
What was the immediate result of Lincoln's election in 1860?
Southern secession
What did the Emancipation Proclamation do?
Declared all slaves in rebellious states free
What was Reconstruction?
The U.S. rebuilding and enforcing new laws in the South
What is segregation?
The separation of races
What linked the East and West coasts of the U.S. in 1869?
Transcontinental Railroad
Which writer launched the war for Cuban independence in 1895?
José Martí
What war helped the U.S. gain Puerto Rico, Guam, and the Philippines?
Spanish-American War
Who led Filipino resistance against U.S. rule?
Emilio Aguinaldo
Queen Liliuokalani tried to:
Restore Hawaiian control from American businessmen
What was the purpose of the Panama Canal?
Shorten travel time between the Atlantic and Pacific
The Roosevelt Corollary gave the U.S. the right to:
Act as a police power in Latin America