WHAP Unit 5 Review

Waterways such as canals and rivers were important in the process of early industrialization because they provided cheap electrical power needed for industrial production

• True

• False

Waterways such as canals and rivers were important in the process of early industrialization because they were a means for integrating economic activities in regional and national markets

• True

• False

In which country did the Industrial Revolution begin?

• The United States
• England
• France
• Germany

The Second Industrial Revolution was focused on electricity, precision steel machinery and chemicals

• True

• False

What did Marx predict for the future?

• The poor would all be killed by the rich

• The poor would realize that they had no power

• The workers would rise up and overthrow the Capitalist system

• education and personal development would bring about a peaceful transformation

Who developed laissez-faire economics as a en economic philosophy? 

• Adam Smith
• Karl Marx
• John Locke
• Louis XVI

Laissez-faire capitalism as attributed to Adam Smith called for

• heavy taxation of manufacturers

• strict government control of the economy

• minimal government involvement in the economy

• government investments in major industries

During the 1800s, the writings of Marx and Engels focused attention on the problems faced by

• factory owners

• investment bankers

• farm laborers

• industrial workers

The capitalist class who own most of society's wealth and means of production.

• Adam Smith
• Bourgeoisie
• Capital
• Capitalism

What system created by Eli Whitney allowed for industrial machines to be repaired and serviced more easily?

• interchangeable parts

• assembly line

• division of labor