entrepreneurship
ghost town
long drive
a mining town that started out growing very quickly. Later, it lost all its citizens when the mines ran out of precious minerals (gold, silver, etc.)
Homestead Act
a law designed to attract farmers to the Great Plains by offering them 160 acres of free land if they live on it and farm the land for 5 years
the amount of goods or services producers are willing to provide. This amount goes up when prices go up, and it goes down when prices go down.
14th Amendment
demand
boomtown
supply
guarantees citizenship to anyone born or naturalized in the U.S. and guarantees equal protection under the law
a factor of production that involves a person bringing together natural, human and capital resources to create a new business that, hopefully, will be successful. This is very RISKY for that person.
a town that quickly grows (almost overnight) because valuable natural resources have been discovered nearby (gold, silver, etc.)
the way in which ranchers and cowhands earned their living; they moved herds of cattle to railroad stations where the cattle were sold to meat packers and delivered to markets in the East
the amount of goods or services consumers are willing to purchase. The amount goes up when prices go down, and it goes down when prices go up.
