industrial rev in europe

In what country did the Industrial Revolution begin?

• France

• England

• United States

• Germany

Driven by free enterprise

• Communism
• Capitalism

Wealth distributed unevenly

• Communism
• Capitalism

Classless society: all members of society are considered to be equal

• Communism
• Capitalism

System of government is totalitarian

• Communism
• Capitalism

There is central control of the economy

• Communism
• Capitalism

Property is owned by the state

• Communism
• Capitalism

Governments should not interfere with the rights of individuals to make their own living

• Communism
• Capitalism

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

Adam Smith would most likely agree with which statement?

• Revolution is the only solution to economic problems.

• Five-year plans are necessary in order to industrialize.

• All nations would benefit from an agricultural economy.

• Government should follow a laissez-faire policy.