Topic 7 Lesson 1 Quiz Review

During the American Industrial Revolution people began to move from rural areas to urban ones, a term known as

• industrialization.

• mechanization.

• nationalization.

• urbanization.

Early mills and factories were commonly built along rivers and streams to power machinery.

• True

• False

A _______ invests in businesses to make a profit.

• socialist

• capitalist

• fascist

• economist

The amount of goods available to sell in a particular industry is called

• products.

• items.

• supply.

• demand.

______ refers to the readiness of people to purchase goods or services in an economic system.

• Demand

• Supply

• Scarcity

• Capital

The price of goods manufactured in factories was less than those made by hand.

• True

• False

What innovation during the Industrial Revolution helped to increase factory production of goods in the United States?

• Railroads

• Supply and Demand

• Urbanization

• Interchangeable parts

Greater access to credit for buisness investors was created by the growth of

• political action committees.

• the National Bank.

• the nation's market economy.

• plantation farming.

Investors focused on businesses that would supply high-demand, high-price products during Industrial Revolution.

• True

• False

Movements of reform in the 1800's allowed women and children to earn wages in factory work comparable to men.

• True

• False