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1. Capitalism : economic system in which individuals, rather than governments, control the factor of production
2. Commercial Capitalisn: early economic system in which most capitalists were merchants who bought and sold goods.
3. Industrial Capitalism: type of capitalism that began during the industrial revolution when capitalists were involved in producing and manufacturing goods themselves, often using mechanized and industrialized methods of production.
4. Iterchangeable parts: identical parts that can replace each other.
5. Mass Production: system of producing large numbers of identical items.
6. Corporations: businesses that allow people to buy stock in the company.
7. Monopoly: complete control of the production orsale of a single good or service by a single firm.
8. Cartels: corporate combinations that control entire industries.
9. Business cycle: alternating periods of prosperity and decline
10. Depression: period in which the decreased demand of goods causes the whole economy to sink