Spring Interim Review

Which of the following is NOT a factor of production during the Industrial Revolution?

• Land (natural resources such as coal and iron)

• Labor (factory workers)

• Capital (machines and factories)

• Monarchy (kings and queens)

What was the main purpose of the steam engine during the Industrial Revolution?

• To improve farming and crop production

• Made machines run faster

• To replace all factory workers

• To increase trade with colonies

Where did the Industrial Revolution begin?

• France

• Germany

• United States

• Great Britain

What changes in farming led to an excess of workers for the Industrial Revolution?

• The end of serfdom across Europe

• Increased use of slave labor

• New farming machines and enclosure reduced the need for farm labor

• Farmers began growing fewer crops

How did land ownership change during the Industrial Revolution?

• The wealthy bought up the farm land to improve farming techniques

• Land became evenly shared among all farmers

• The government took control of most farmland

• Most people moved from cities to farms

Which of the following was an effect of urbanization?

• Farming production increased as a result of more workers in the fields

• Many poor people and orphans were homeless and fled to rural areas for work

• Housing was built quickly for factory workers resulting in poorly constructed and badly ventilated buildings

• The life expectancy of a worker in the city was twice as long as a farmer in the country

Which statement BEST describes Karl Marx's view of laissez-faire capitalism?

• He believed it would increase workers' standard of living

• He believed it would cause a reduction in national wealth

• He believed it would result in a workers' revolution

• He believed it would lead to the end of industrialization

Adam Smith's economic argument emphasized the importance of which of the following?

• Benefits of public speaking

• Impact of strict monetary policies

• Efficiency of markets

• Dangers of the banking system

When Adam Smith referred to a market at 'laissez-faire', he was referring to which of the following types of economies?

• Closed market

• Pure traditional

• Pure command

• Free market

Which economic system did Karl Marx introduce?

• Communism

• Socialism

• Capitalism

• Mixed