Unit 3 Review

Which description most closely matches capitalism?

• An economic and political system in which the government regulates property and distribution of income in order to provide services such as education, healthcare and jobs.

• A political philosophy that seeks to abolish all authority, oppression, or hierarchy in society.

• An economic and political theory for a society with no classes, in which all property is publicly owned, and each person works and is paid according to their abilities and needs.

• An economic system where private individuals own property and compete with one another. The forces of supply and demand set prices.

Which description most closely matches socialism?

• An economic and political system in which the government regulates property and distribution of income in order to provide services such as education, healthcare and jobs.

• A political philosophy that seeks to abolish all authority, oppression, or hierarchy in society.

• An economic and political theory for a society with no classes, in which all property is publicly owned, and each person works and is paid according to their abilities and needs.

• An economic system where private individuals own property and compete with one another. The forces of supply and demand set prices.

Which description most closely matches communism?

• An economic and political system in which the government regulates property and distribution of income in order to provide services such as education, healthcare and jobs.

• A political philosophy that seeks to abolish all authority, oppression, or hierarchy in society.

• An economic and political theory for a society with no classes, in which all property is publicly owned, and each person works and is paid according to their abilities and needs.

• An economic system where private individuals own property and compete with one another. The forces of supply and demand set prices.

Which of the following is NOT a purpose of labor unions?

• To negotiate with employers for better wages, hours, and working conditions.

• To threaten employees with job loss.

• To protect workers' rights and safety.

• To provide support and solidarity to workers.

Which of the following is NOT an example of labor union activities?

• Passing a protest to shop inside

• Strikes

• Collective bargaining

• Boycotts

All of the options below are BENEFITS of capitalism, EXCEPT:

• Entrepreneurship

• Competition

• Innovation

• Economic Inequality

All of the options below are NEGATIVES of capitalism, EXCEPT:

• Economic Inequality

• Investment

• Environmental Damage

• Worker exploitation

________ and _________ were major power sources during the First Industrial Revolution, while ________ and _________ were the major power sources during the Second Industrial Revolution.

• water and coal; petroleum and electricity
• petroleum and electricity; water and coal
• coal and oil; water and electricity

• water and electricity; coal and oil

Steel was used to construct all of the following EXCEPT:

• railroad tracks

• bridges

• monopolies

• skyscrapers

What dangers were children exposed to when they worked in factories?

• Disease

• Limb injuries

• Physical abuse

• All of the above