Modern World History Vocab 6.3

Question 1

certain rights of ownership of a corporation

Accepted Answer

stock

Question 2

the resources—including land, labor, and capital—that are needed to produce goods and services.

Accepted Answer

factors of production

Question 3

identical machine-made components, the use of which made factory work more efficient.

Accepted Answer

interchangeable parts

Question 4

the development of industries for the machine production of goods.

Accepted Answer

industrialization

Question 5

business owned by stockholders who share in its profits but are not responsible for its debts

Accepted Answer

corporation

Question 6

a situation where people rely on others to provide the goods and services they need.

Accepted Answer

economic interdependence

Question 7

when one worker specializes in doing one task

Accepted Answer

division of labor

Question 8

figured out how to make the steam engine work faster & more efficiently while burning less fuel

Accepted Answer

James Watt

Question 9

American inventor who used the steam engine to create the first successful steamboat.

Accepted Answer

Robert Fulton

Question 10

British engineer who invented the cheap way to mass-produce steel.

Accepted Answer

Henry Bessemer

Questions 10