Economic Development Vocabulary

A period of severed dust storms that greatly damaged the ecology and agriculture during the 1930s.

• drought
• Dust Bowl
• desert
• Great Depression

An industry that experienced immense growth in the 1940s through discovery.

• oil and gas
• cattle
• farming
• urbanization

Severe economic depression that took place in the 1930s. It was a time of loss, confusion, and struggle.

• Dust Bowl
• Industrial Revolution
• Drought
• Great Depression

A period of change in an economy that reorganizes that economy for the purpose of manufacturing (making).

• urbanization
• drought
• industrialization
• industrial revolution

a group of business that provide a particular product or service such as the car industry or education industry

• urban
• factories
• industry
• all of the above

the population shift from rural (country) to urban (heavily populated city)

• movement
• suburbanization
• ruralization
• urbanization

the location where on January 10, 1901, an enormous geyser of oil exploded from a drilling site in Beaumont, Texas

• Patillo Higgins
• Spindletop
• Galveston Hurricane
• oil and gas

a type of economy where products, prices, and services are determined by the market, not the government

• free enterprise system
• free system
• enterprise
• good economy

a stock of an item of resource that can be provided when needed

• demand
• supply
• prices
• increase

the amount of desire (want) for a particular good or service

• demand
• supply 
• economy
• prices