2.1 Innovation Boosts Growth

Taxes on imported goods designed to protect domestic industry from foreign competition.

• patent

• protective tariff

• entrepreneur

• mass production

Any of the 24 longitudinal areas of the world within which the same time is used. Standardized time zones resulted from the development of rail travel.

• time zone

• laissez faire

• mass production

• patent

Official rights given by the government to an inventor for the exclusive right to develop, use, and sell an invention for a set period of time.

• cash crop

• laissez faire

• free enterprise

• Patent

A crop grown for sale rather than consumption by the grower's family.

• Bessemer process

• laissez faire

• Cash Crop

• suspension bridge

Person who builds and manages businesses or enterprises in order to make a profit, often risking his/her own money or livelihoods.

• Thomas Edison

• Entrepreneur

• free enterprise

• Bessemer process

the efficient production of large numbers of identical goods

• mass production

• Bessemer process

• free enterprise

• suspension bridge

Freedom of private business to organize and operate for profit in a competitive system without interference by government beyond regulation necessary to protect public interest and keep the national economy in balance.

• free enterprise

• laissez faire

• mass production

• cash crop

The absence of government control over personal and economic life. Think "lazy" or hands off.

• Bessemer process

• Thomas Edison

• laissez faire

• suspension bridge

Method developed in the mid-19th century (mid-1800s) in England for making steel more efficiently (less expensively). Brought to the United States by Andrew Carnegie.

• time zone

• Bessemer process

• free enterprise

• protective tariff

American inventor (1847-1931) who held over 1,000 patents for inventions, including the light bulb, an early movie camera, and an alkaline battery.

• Bessemer process

• protective tariff

• laissez faire

• Thomas Edison