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Industrial Revolution and New Economic Realities Quiz

Authored by Donna Sanders

History

Professional Development

Industrial Revolution and New Economic Realities Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the new economic system that better fit the realities of industrialization?

Mercantilism

Free market economics

Feudalism

Socialism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who criticized mercantilism as coercive and advocated for free market economics in 'The Wealth of Nations'?

Karl Marx

John Maynard Keynes

Adam Smith

Friedrich Engels

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What did Adam Smith call the process where suppliers and consumers react to each other based on the laws of supply and demand?

The Transparent Arm

The Invisible Hand

The Visible Foot

The Opaque Leg

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After 1815, several Western governments abandoned some of their state regulations on trade, resulting in increased trade and greater wealth, proving the ideas of which economist right?

Jeremy Bentham

Adam Smith

Friedrich List

Karl Marx

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which German economist rejected global free market principles and advocated for government legislation addressing social problems?

Karl Marx

Jeremy Bentham

Friedrich List

Adam Smith

6.

OPEN ENDED QUESTION

3 mins • 1 pt

What is a transnational corporation?

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OFF

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the purpose of the Hong Kong and Shanghai Banking Corporation?

To control the flow of British Imperial ventures in the area

To manufacture household goods

To organize transnational trade

To provide financial services to the working class

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