WH OC 6 Economic Exchanges & Networks

What was the first economic system to exist?

• Barter

• Command

• Market

• Mixed

What was the first economic system used during the Triangular Trade?

• Barter

• Command

• Market

• Mixed

Example: A company produces what the government wants them to.

• Barter

• Command

• Market

• Mixed

How was a market economy necessary to begin the Industrial Revolution?

• Businesses worked together to make goods with one another

• The govt controlled everything

• Businesses competed to make low costing (cheap) goods

• Govt oversight over bad work conditions

Why did society change from a barter economy to a market economy?

• Govts wanted to control the economy

• Higher wages for employees

• Currency (money) made purchasing goods easier

Why was Great Britain the country that began the Industrial Revolution? (multiple select)

• Country was wealthy and able to pay for builds and machinery

• They had a big labor force looking for jobs

• Lots of natural resources (like coal and iron)

What natural resources were necessary to begin the First Industrial Revolution? (select 2)

• Coal

• Iron

• Steel

• Phosphorus

How did Europe impact Africa? (select 3)

• The slave trade destroyed African cultures

• European goods were used to start wars in Africa

• Africa became an industrialized country during the Industrial Revolution

• The African economy relied heavily on trade with Europe

How many people lived in Great Britain in 1870?

• 31 Million

• 38.6 Million

• 76 Million

• 24 Million

How many railroads were in the US in 1900?

• 53,000

• 18,600

• 195,000

• 11,000