Industrial Revolution: Economics

These small cramped and overcrowded city dwellings became home for many urban laborers and immigrants throughout Industrialization.

• Mansions
• Cottages
• Villas
• Tenements

This Chart would BEST reflect the economic beliefs of what thinker?

• Karl Marx
• John Stuart Mill

• Adam Smith
• Fredrich Engels

In his Iron Law of Wages, David Ricardo argued that a high _________ drove down wages and caused poverty.

• population
• Immigration

• education
• inflation

This photo BEST reflects what migratory pattern?

• Rural Movement

• Immigration

• Migration

• Urbanization

The Industrial Workers of the World (IWW) fought for over 9000 members in the US to gain better working conditions. This BEST explains what type of organization?

• Political party
• Religious organization
• Social club
• Labor union

The People's Party of the Government just seized all of the automobile factories and began to regulate the entire industry. This action would be praised the MOST by which economic thinker?

• Adam Smith
• Milton Friedman
• Karl Marx
• Thomas Malthus

According to Utilitarianism, right actions and laws are those that, _________.

• Result in best possible outcome for the good of the people involved.

• Bring order and structure to society

• Repress freedoms and enslave the underclass.

• Result in the Best outcome for only the wealthy.

This 18th Century economic philosophy emphasizes little to no government intervention.

• Laissez-faire
• Socialism
• Fascism
• Communism