Industrialization and Economic Systems

The video explores the global impact of industrialization, focusing on the responses of various countries such as China, the Ottoman Empire, Japan, and Russia. It highlights the shift from mercantilism to capitalism, the rise of consumerism, and the development of new economic systems. Japan's Meiji Restoration is noted as a success story, while other nations faced challenges in modernization. The video also discusses the emergence of transnational corporations and the influence of Western powers on global economies.

What was a significant outcome of the Meiji Restoration in Japan?

• Japan successfully industrialized and modernized.

• Japan isolated itself from the world.

• Japan adopted a feudal system.

• Japan became a dominant agricultural power.

How did the Qing Dynasty attempt to respond to the challenges of industrialization?

• Through the Self-Strengthening Movement.

• By adopting Western traditions entirely.

• By forming alliances with European powers.

• By expanding its territory in Asia.

What was a key factor in Japan's success in industrialization during the Meiji era?

• Focus on traditional agriculture.

• Adoption of Western models and experts.

• Dependence on Chinese technology.

• Isolation from Western influences.

What major infrastructure project did Russia undertake to support its industrialization?

• The Suez Canal.

• The Panama Canal.

• The Trans-Siberian Railroad.

• The Great Wall of Russia.

What economic system replaced mercantilism during the Industrial Revolution?

• Feudalism

• Socialism

• Capitalism

• Communism

What is a characteristic of a limited liability corporation (LLC)?

• It is owned by a single individual.

• It spreads risk among many investors.

• It is a government-owned entity.

• It cannot raise capital for growth.

Which company is an example of a transnational corporation that influenced local governments?

• Sony Corporation

• United Fruit Company

• Samsung Electronics

• General Motors

What was a result of the rise of consumerism during the Industrial Revolution?

• Reduction in advertising industries.

• Decrease in the standard of living.

• Increased availability of consumer goods.

• Decline in leisure activities.

Which sport became popular among the new middle and upper classes during the rise of consumerism?

• Basketball

• Rugby

• Cricket

• Soccer

What role did governments play in the industrialization of their nations?

• They focused solely on agricultural development.

• They actively worked to industrialize to compete with Western powers.

• They completely withdrew from economic activities.

• They discouraged any form of modernization.