How Well Do You Know Your American Economics?

1. How Well Do You Know Your American Economics? Shine on the SS STAAR!

2. #1 What was the first successful cash crop in the American colonies? Wheat cotton A: B: corn tobacco C: D:

3. D: tobacco

4. #2 Most of the people in the New England area made their livings in an industry that had to do with? Farming Cash crops A: B: Shipbuilding Trading with Native Americans C: D:

5. C: Shipbuilding

6. #3 Slavery could of died out except for the invention Of what? The reaper The cotton gin A: B: The train Silos C: D:

7. B: The cotton gin

8. #4 Tariffs supported which area in the US? The South The West A: B: The North Areas in the Mexican Cession C: D:

9. C: The North

10. #5 What war caused the British to go so far in debt that they began to tax the Americans to help pay. The American Revolution The French and Indian War A: B: The War of 1812 The Civil War C: D:

11. B: The French and Indian War

12. #6 Why did the plantation system develop in the South And not elsewhere in the nation? Religion of colonists Development of the American work ethic A: B: Reasons for colonization Governments of South C: D:

13. C: Reasons for Colonization – Remember Virginia, the first colony, was developed by a joint stock company in order to make money! People came to the other areas for religious and political reasons

14. #14 The economic principle employed by Great Britain towards its colonies worldwide including those In America – that colonies exist to provide raw goods And to purchase goods from the mother nation. Free enterprise Communism A: B: Socialism Mercantilism C: D:

15. D: Mercantilism

16. #8 What was one of the factors that brought about major changes in the way goods were made and Increased urban populations? Developments in transportation made it easier to travel to the urban areas. The building of the Cumberland turnpike allowed Westerners access to urban areas. A: B: The use of interchangeable parts in factories provided jobs for people. The invention of the cotton gin helped increased the productivity of agricultural products. C: D:

17. C: The use of interchangeable parts in factories provided jobs for people – remember urban means city!

18. #9: The concept that individual people should possess private ownership of property and business Is called? Free enterprise Communism A: B: Democracy Mercantilism C: D:

19. A: Free Enterprise

20. #10 Which invention helped transport goods and people from the east to the west, and north to the south, and back more efficiently and quickly? Steamboats Cotton gin A: B: telegraph Interchangeable parts C: D:

21. A: Steamboat

22. #11 The surplus of this invention helped bring the Union to victory against the South during the Civil War? Colt Revolver Steamboats A: B: Textile Mills Train C: D:

23. D: Train

24. C: Alexander Hamilton

25. #12 Who developed the first Bank of the United States? Thomas Jefferson James Madison A: B: Alexander Hamilton John Jay C: D:

26. #13 Who was responsible for closing the Bank of the United States once and for all? Andrew Jackson James Monroe A: B: Thomas Jefferson John Quincy Adams C: D:

27. A: Andrew Jackson

28. #14 Which US President built the Erie Canal? James Monroe John Quincy Adams A: B: Andrew Jackson William Henry Harrison C: D:

29. B: John Quincy Adams

30. #15 What economical reason did the South have for supporting slavery that the North did not? Their economy was based on an industrial system that required a free labor source. They were lazier people and didn’t want to work. A: B: Their economy was based on an agricultural system that required a free labor source. They grew wheat and corn on subsistence farms. C: D:

31. C:Their economy was based on an agricultural system that required a free labor source.

32. So How Did You Do? KEEP STUDYING Your Glossaries!