Capitalism  an economic system in which individuals are free to follow their economic pursuits as they see fit.

    Free Enterprise  AKA Capitalism. 

GNP  Gross National Product  total output of goods and services within a country.

    entrepreneur  a person who takes business risks in the hopes of someday making a profit.

      Pittsburgh  became the iron and steel center
  St. Louis known (hick-up) for their breweries
    Detroit known for automobile production
    Minneapolis  known for their flour mills
    Omaha   meat packing industry

How would you like to be the first at something?
Here's a 2.5 min video on the first hot air balloon and orbiter.

    Read page 363 second column.  

How did Americans look upon their ability to work?

How did government spur individual initiative?

What did capitalism bring to America?

Define Protestant Work Ethic

Watch Modern Assembly Line 15 min video

Photo Credits:

Entrepreneur: http://hbswk.hbs.edu/pubitem.jhtml?id=2100&t=entrepreneurship

GNP:  http://faculty.washington.edu/krumme/data/gnp.jpg

Lesson Objectives

Students will learn

OBJECTIVES: Students will be able to:

1. list

2. explain the difference between

3. describe the

4. chart on a map the

5. define the terms

6. Explain the significance of

Knowledge: Recall of data.

Comprehension: Understand the meaning, translation, interpolation, and interpretation of instructions and problems. State a problem in one's own words.

Application:
Use a concept in a new situation or unprompted use of an abstraction. Applies what was learned in the classroom into novel situations in the workplace.

Analysis:
Separates material or concepts into component parts so that its organizational structure may be understood. Distinguishes between facts and inferences. 

Synthesis:
Builds a structure or pattern from diverse elements. Put parts together to form a whole, with emphasis on creating a new meaning or structure.

Evaluation:
Make judgments about the value of ideas or materials.