Market System 5.03

What is the economic system where trade and industry are controlled by private owners for profit?

• Socialism

• Communism

• Capitalism

• Feudalism

Who is a person that organizes and operates a business, taking on financial risks to do so?

• Manager

• Entrepreneur

• Employee

• Investor

Which invention is associated with improving agricultural efficiency by cutting and gathering crops?

• Sewing machine

• Telegraph

• Mechanical reaper

• Steam engine

What is the name of the waterway that significantly improved transportation in the early 19th century in the United States?

• Panama Canal

• Erie Canal

• Suez Canal

• Grand Canal

Which invention revolutionized communication by allowing messages to be sent over long distances quickly?

• Telephone

• Telegraph

• Radio

• Television

What is the term for farming that provides enough food for the farmer and their family, but not for sale?

• Commercial farming

• Subsistence farming

• Industrial farming

• Organic farming

Which invention is known for transforming the textile industry by automating the process of sewing?

• Steel plow

• Mechanical reaper

• Sewing machine

• Telegraph

What is the name of the first successful steamboat that demonstrated the viability of steam-powered navigation?

• Titanic

• Clermont

• Mayflower

• Santa Maria

Which system was designed to promote industry and infrastructure in the United States during the early 19th century?

• American System

• British System

• French System

• German System

What mode of transportation became crucial for moving goods and people across long distances in the 19th century?

• Airplane

• Automobile

• Railroad

• Bicycle