Slides: Mod 12.3

Drag and Drop

The free enterprise system is characterized by

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.

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Government ownership of production

Limited competition between busines

Private ownership of property and b

A focus on agricultural production

Drag and Drop

The illustrator's point of view in this cartoon is that monopolies are

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and have too much ​

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harmful

helpful

power

criticism

Multiple Choice

What caused the Panic of 1893?

• Economic downturn due to agricultural failures.
• Increased tariffs on imported goods.
• Massive gold discoveries in the West.
• Over-building of railroads and subsequent bank failures.

Multiple Select

What were some of the major consequences of the Panic of 1893 for the American economy and society?

• A significant increase in agricultural exports

• The collapse of nearly 600 banks and 15,000 businesses

• A rapid decrease in railroad construction

• The immediate recovery of the economy without any long-term effects

• 4 million people lost their jobs

Multiple Choice

Describe laissez faire business practices:

• Laissez-faire practices require strict government regulations to control markets.
• Laissez-faire business practices involve minimal government intervention, promoting free market operations and competition.
• Laissez-faire business models focus on monopolies and limited competition.
• Laissez-faire economics promotes heavy taxation and government subsidies.

Multiple Choice

Which of the following best describes the concept of 'free enterprise?'

• All business decisions are made by the government.

• The government owns and operates all major industries.

• Businesses and individuals run most industries with minimal regulation.

• Businesses are required to share profits equally with all citizens.

Multiple Select

Which of the following are characteristics of corporations?

• Corporations never invest in new technologies

• Corporations are always owned by the government

• Profit for shareholders in the form of dividends.

• Group ownership through shares of stock

Multiple Choice

The New Money class was comprised of self-made millionaires known as:

• Inherited wealth
• Corporate executives
• Trust fund beneficiaries
• Tycoons

Multiple Select

How did tycoons of the 'New Money' class justify their wealth during the Industrial Revolution?

• By redistributing wealth to the poor

• By supporting labor unions

• By claiming are biologically superior to others

• By advocating for equal pay for all workers

• By claiming that their wealth was a symbol of God's favor

Multiple Choice

Members of the aristocracy often own businesses and serve in:

• Nonprofit organization boards

• Government

• Charities

• Communist organizations

Multiple Choice

The Old and New Money classes combine to form the:

• Proletariat

• Aristocracy

• Tycoons

• Bourgeoisie

Multiple Select

Which of the following were internal migration patterns during the industrial revolution?

• The Great Migration

• The New Immigration

• The Great Replacement

• The Hillbilly Highway