13. TM M15 L4: Reforming the Industrial World

Front

Which of these is NOT one of Adam Smith's ideas about how the economy works? Options: The Law of Self-interest (People usually act in ways that benefit themselves.), The Law of Equality (Everyone should have the same amount of stuff.)

Back

The Law of Equality (Everyone should have the same amount of stuff.)

Front

Karl Marx thought that one day, people would live in a society without a government or different social classes. He called this...

Back

Communism (Everyone shares everything equally)

Front

Thomas Malthus was worried about people having too many babies. What did he think would happen?

Back

There wouldn't be enough food or resources, leading to bad living conditions and fights.

Front

Socialists thought the best way to solve poverty and unfairness was...

Back

Having everyone share the tools and factories needed to make things.

Front

Jeremy Bentham, a reformer who believed in Utilitarianism, thought that...

Back

Laws should be helpful and good for the most people.

Front

Karl Marx believed that history was driven by fights between...

Back

Different social classes (like the rich and the poor)

Front

Karl Marx disliked capitalism (the free market) because he thought it...

Back

Made a few people rich while many others were poor.

Front

"The greatest happiness for the greatest number" was a goal of...

Back

Utilitarianism (Making decisions that benefit the most people)

Front

"Let the people do as they please" or "No government interference" was a key idea of...

Back

Laissez-faire (The government shouldn't interfere in the economy)

Front

Laissez-faire economists believed that the best system was...

Back

A completely free market with lots of private ownership.