Unit Test — Unit test Answers

What two principles form the basis for capitalism?

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

Workers competed for jobs in the model factory started by Robert Owen because

Which problems arose as a result of capitalism with little government oversight? Check all that apply.An even distribution of wealth led to little competition.Businesses eventually exploited the working class.Workers who were injured on the job were not protected.There were vast inequalities between workers and owners.Worker’s unions dissolved because employee treatment improved.Big companies drove small companies out of business.

What moderate reforms did European socialists support? Check all that apply.assistance for the poorworking class revolutionbetter working conditionslack of protections for unionsminimum wage lawslack of regulation for prices

In general, which best explains why communist revolutions did not happen?

As economic theories, socialism and communism sought to

revoltedworked harderobeyedowned property

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

This excerpt is from The Wealth of Nations by Adam Smith.“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest.”