Pretest

Question 1

A market that is driven by supply and demand is controlled by

Revolt · Accepted Answer

producers and consumers.

Question 2

In a laissez-faire economy, the government plays a

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limited role.

Question 3

What was one advantage of the division of labor during the growth of industry?

Revolt · Accepted Answer

Workers were able to specialize and perform specific tasks.

Question 4

Who owns most farms and factories in a capitalist economy?

Revolt · Accepted Answer

private individuals

Question 5

Question 5

Revolt · Accepted Answer

[Dropdown 1] private; private

Question 6

Who owns most farms and factories in a capitalist economy?

Revolt · Accepted Answer

private individuals

Question 7

Why did industrialization change the economy of many countries? Choose three correct answers.

Revolt · Accepted Answer

Individuals began to start more private businesses.; Factories began to employ specialized workers.; New banking systems financed the growth of business.

Question 8

At the dawn of industrialization, why were entrepreneurs important to changing economies in Europe? Choose four correct answers.

Revolt · Accepted Answer

They developed new products and inventions.; They invested money in new businesses.; They improved on the available technology.; They started a number of new businesses.

Question 9

How did banking change in Europe from the 1700s to the 1800s?

Revolt · Accepted Answer

The number of private banks sharply increased.

Question 10

At the dawn of industrialization, why were entrepreneurs important to changing economies in Europe? Choose four correct answers.

Revolt · Accepted Answer

They invested money in new businesses.; They started a number of new businesses.; They developed new products and inventions.; They improved on the available technology.

Pretest Answers

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