AnswersPBCSD_Grade_Forgiveness_2109310_World History_S2_2015Impact of the Industrial Age

New Economic Theories Answers

0 verified answers3 views
1
Free Preview

In a free market, supply and demand determines

A
the type and number of goods produced.
B
the number and distribution of goods produced.
C
the raw materials and tools used to produce goods.
D
the factories and machines used to produce goods.
2
Free Preview

In terms of production, what best describes the difference between capitalism and socialism?

A
Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.
B
Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.
C
Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.
D
Capitalism is a system in which government should “plan” the economy, but socialism stresses that free market dictates production.
3

During industrialization, which led to an exploration of new economic theories?

A
a war between socialists and capitalists
B
a gap between rich and poor
C
the seizure of property by the government
D
the fight to control businesses by individuals
4

[BLANK]

A
communism
B
socialism
C
capitalism
D
utopianism
5

The three main ideas behind capitalism as defined by Adam Smith are

A
free markets, laissez-faire, and fair taxes.
B
competition, self interest, and laissez-faire.
C
laissez-faire, regulation, and self interest.
D
competition, free markets, and trade limits.
6

As economic theories, socialism and communism sought to

A
encourage private ownership of businesses.
B
even out inequalities of wealth.
C
encourage little government oversight.
D
build housing and schools for workers.
7

dictatorscapitalistsmonarchsworkers

A
dictators
B
capitalists
C
monarchs
D
workers
8

What two principles form the basis for capitalism?

A
private ownership and equal wealth
B
free markets and shared property
C
private ownership and free markets
D
free markets and government oversight
9

Which best explains how a mixed economy addressed problems that arose from capitalism?

A
Laissez-faire principles remained, but government passed laws promoting worker safety.
B
Government interference continued, and new laws allowed workers to own companies.
C
Supply and demand remained, and government took control of the means of production.
D
Government regulation was minimal, but new laws protected workers and their standard of living.
10

What moderate reforms did European socialists support? Check all that apply.

A
assistance for the poor
B
working class revolution
C
better working conditions
D
lack of protections for unions
E
minimum wage laws
F
lack of regulation for prices

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Impact of the Industrial Age

Quiz
10 verified answers

Impact of the Industrial Age

Quiz
10 verified answers

Age of Reform