Vocabulary Chapter 9

This gives the inventor the sole legal right to make money from an invention for a certain period of time.

Manufacturing parts that are nearly identical so that they will fit into any assembly of the same type.

• patent

• interchangeable parts

• capital

• free enterprise

buildings, land, machines, money, and other items used to create a business and generate wealth

An economic system in which individuals and businesses own property and decide how to use it.

• capitalism

• republicanism

• socialism

• communism

A big business owned by many people who invest money and share in its profits. Walmart, Target, Costco, Apple, etc are all examples.

People are free to work wherever they wish and to buy, sell, and produce whatever goods or services they want. There are 5 pillars to this concept.

• sectionalism

• corporation

• capitalism

• free enterprise

The exclusive possession or control of the supply, production, and trade of a product or service.

Loyalty to one's own region or section of the country, rather than to the country as a whole.

• socialism

• discrimination

• sectionalism

• nationalism

trade between states/transportation of products, services, or money across state borders

give up power, control, or territory