Industrial Revolution

The four factors of production that were vital to the Industrial Revolution and the start of any business include each of the following EXCEPT

• land

• labor

• capital

• entrepreneurs

• investors

The term laissez-faire roughly translates to mean

• leave alone

• resist

• freedom

• control

The ability to have necessities of life, such as food, clothing, and shelter and wants like vacations, concerts, and other amusements is referred to as

• middle class

• upper class

• standard of living

• purchasing power

The process of an area growing larger, with an increase in population, production of goods and services, and availability of a variety of options to fulfill one's wants and needs is called

• industrialization

• urbanization

• materialism

• commercialism

During the Industrial Revolution, a new social and economic class that developed was the

• serfs

• rich, or the upper class

• expanded lower class

• middle class

In the early days of the Industrial Revolution, which item was manufactured in great numbers at newly built factories?

• textiles

• industrial machines

• cars

• household goods like cookware

Which of the following best defines the term capital when referencing the Industrial Revolution?

• a city where industrial production increased, became an important city for a nation's economy

• money, equipment, and/or resources that were used in the production of goods

• a type of investment that helped a factory or business get started

• none of these best define capital

Karl Marx spelled out how he believed that workers should rise up against factory owners, outlining the basic principles of

• capitalism

• socialism

• communism

• command economies

Which of the following best describes industrialization?

• nations began to rely on one another for trade of various goods and resources after the beginning of the Industrial Revolution

• smaller nations needed assistance from their larger neighbors, so they formed trade alliances

• more and more people began to move to cities, away from rural areas

• advancement in technology to produce goods on a larger scale and a reliance on manufacturing of goods instead of individuals producing goods themselves

Why was England the site of the beginnings of the Industrial Revolution?

• England was the most powerful nation in the world

• It wasn't; history has unfairly given England credit for the Industrial Revolution

• England had an abundance of natural resources such as coal, iron ore, and waterways where water wheels and steam engines could be built

• England was centrally located to many areas like France, Germany, Spain, and Ireland, giving them an advantage to bring in resources and talent from many places