Vocabulary from Video Presentation

The Transcontinental Railroad is:

• A railroad connecting the east and west coasts of the United States

• A railroad connecting Europe and Asia

• A railroad connecting North and South America

• A railroad connecting Africa and Australia

Mass production is:

• A method of producing goods in large quantities at low cost per unit

• A technique for producing unique, custom-made products

• A process of creating handmade items

• A strategy for reducing production time by increasing labor

An assembly line is:

• A method of production where workers and machines are arranged in a sequence

• A type of meeting where people gather to discuss ideas

• A line drawn on a map to indicate boundaries

• A type of musical performance involving multiple instruments

A telegraph is a device used for what purpose?

• Sending coded messages over long distances

• Capturing photographs

• Measuring temperature

• Recording sound

The Bessemer Process is:

• A method for converting iron into steel

• A technique for extracting aluminum

• A process for refining oil

• A method for producing electricity

Thomas Edison is known for?

• Inventing the light bulb

• Discovering penicillin

• Developing the theory of relativity

• Creating the first computer

What is capitalism?

• An economic system where trade and industry are controlled by private owners for profit

• A political system where the government controls all aspects of life

• A social system where all property is publicly owned

• A cultural movement focused on artistic expression

Laissez-faire is a policy of:

• Government intervention in the economy

• Minimal governmental interference in economic affairs

• Strict regulation of businesses

• Complete control of the economy by the state

A corporation is:

• A type of business entity

• A government agency

• A non-profit organization

• A type of partnership

A monopoly/trust is:

• A market structure with many competitors

• A market structure with a single seller

• A type of government regulation

• A form of consumer protection