AP : Unit 11

Adam Smith in The Wealth of Nations describes

• Utopian Communist communities

• Democratic Republicanism

• Laissez Faire Economics

• Mercantilism as an ideal economic system

Industrialism leads to

• rapid rural population expansion

• an increase of power in landed investors

• a shift in the measure of wealth

• an demand for skilled craftsmen

Under the Tokugawa Japan was

• a major trading nation

• rapidly industrializing

• bankrupt

• isolated

Commander Perry is connected to

• the opening of Japan for trade

• the attack on China during the Opium wars

• Russia's rapid growth as a power

• the defeat of the Napoleon

Classical Liberals believe

• all of these

• that the economy is a natural process

• that population will always grow faster than food supply

• that poverty will always exit in some form

Most 19th century liberals were likely

• middle class

• working class

• upper class

• peasants

What is the movement of people from farms to cities?

• Utilitarianism

• Urbanization

• Proletariat

• Enclosure Movement

A place where people and machines join together to mass produce goods.

• Cartel

• Corporation

• Factory

• Urbanization

The Industrial revolution created a new ____________ class.

• Upper

• Poor

• Lower

• Middle

Known as the Father of modern economics, author of Wealth of Nations, based on the principle of Laissez-Faire?

• Adam Smith

• David Ricardo

• Thomas Malthus

• John Wesley