Industrial Revolution and Economic Systems

Who invented the steam engine?

• James Watt

• Adam Smith

• Karl Marx

• Middle Class

Which Scottish philosopher believed that the economy depends on the demand of people?

• James Watt

• Adam Smith

• Karl Marx

• Entrepreneur

Who defined the industrial working class as the proletariat and encouraged workers to overthrow owners and seize control of factories?

• James Watt

• Adam Smith

• Karl Marx

• Crop rotations

What is the term for a person who assumes financial risk in the hope of making a profit?

• James Watt

• Adam Smith

• Karl Marx

• Entrepreneur

What is the term for a group of people, including merchants, traders, and artisans, whose rank was between nobles and peasants?

• James Watt

• Adam Smith

• Karl Marx

• Middle Class

What are groups of workers who unite to improve conditions for themselves called?

• Unions

• Crop rotations

• Enclosure

• Urbanization

What is the term for the process of taking over and consolidating land formerly shared by farmers?

• Unions

• Crop rotations

• Enclosure

• Urbanization

What is the term for the movement of people from rural areas to cities?

• Unions

• Crop rotations

• Enclosure

• Urbanization

What is the term for the process of an economy moving from farming/handcraft to industry/machine-made products?

• Unions

• Crop rotations

• Enclosure

• Industrialization

Which economic system is a free market based on competition, profits, supply & demand?

• Capitalism

• Socialism

• Communism

• Middle Class