Economic CHANGES & CONTINUITIES in the 17th-18th Centuries [AP Euro Review—Unit 3 Topic 3]

What innovation allowed farmers to avoid leaving a third of their land fallow each year?

• The two-field system

• The three-field system

• Crop rotation with nutrient-restoring crops

• Increased use of fertilizers

What was a direct consequence of the increased food output during the Agricultural Revolution?

• A decrease in the overall population of Europe

• A significant increase in the population of Europe

• A shift from a money economy to a barter system

• A decline in the importance of the potato as a food source

How was the cottage industry, organized under the putting-out system, structured?

• Rural workers purchased raw materials, manufactured goods, and sold them in urban markets.

• Merchant capitalists provided raw materials to rural workers, who manufactured goods and were paid for their labor.

• Guild workers in cities supplied raw materials to rural households for manufacturing.

• Rural households specialized in farming and traded surplus crops for manufactured goods.

What economic system, advocated by Adam Smith, replaced mercantilism and is characterized by production and prices determined by competition between privately owned businesses?

• Feudalism

• Socialism

• Market economy

• Command economy