Key Concepts of the Industrial Revolution & European Imperialism

The Industrial Revolution was a period that saw a significant change from

(a)   to​ (b)  

• Agriculture
• manufacturing
• free enterprise
• raw materials
• water frames

What is Manufacturing?

• The process of extracting raw materials

• The process of converting raw materials into finished products

• The process of distributing finished products

• The process of marketing finished products

The Invisible Hand according to Adam Smith is:

• a metaphor for the self-regulating nature of the marketplace

• a literal hand that guides economic decisions

• a government policy to control the economy

• an economic theory that supports monopolies

What is the term for types of cloth or woven fabric, a major industry during the Industrial Revolution? (a)  

• Free Enterprise

• Textiles

• Factory System

• Raw Materials

A Steam Engine is:

• a type of internal combustion engine

• a machine that converts steam into mechanical energy

• an electric motor

• a hydraulic device

What is Communism according to Karl Marx?

• A political and economic theory advocating for class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

• A system where the government owns and controls all resources and means of production.

• A form of government where a single party rules and the state controls the economy.

• An economic system based on private ownership and free markets.

What is Laissez-faire?

• A policy of minimal governmental interference in the economic affairs of individuals and society.

• A type of government where the state has total control over the economy.

• A system where the government regulates all aspects of the economy.

• A political ideology that advocates for a strong central government.

The Suez Canal is a...

• natural waterway connecting the Mediterranean Sea and the Red Sea

• man-made waterway connecting the Mediterranean Sea and the Red Sea

• natural waterway connecting the Atlantic Ocean and the Indian Ocean

• man-made waterway connecting the Atlantic Ocean and the Indian Ocean

What is the Panama Canal?

• A natural river in Panama

• A man-made waterway in Panama, connecting the Atlantic and Pacific Oceans, opened in 1914.

• A mountain range in Panama

• A desert in Panama

What is Capitalism?

• A) A political system with no private ownership

• B) An economic system characterized by private ownership of the means of production and operation for profit.

• C) A system where the government owns all businesses

• D) A barter system