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Core Knowledge 6 - Industrial Revolution Vocab.

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

an economic system in which major industries are owned or regulated by the government, rather than by private businesses.

a)

capitalism

b)

free market

c)

union

d)

bourgeoisie

e)

socialism

2.

an economic system based on competition between private businesses, where the government does not control prices.

a)

capitalism

b)

free market

c)

union

d)

bourgeoisie

e)

socialism

3.

an organization formed by workers to win and protect workers' rights.

a)

capitalism

b)

free market

c)

union

d)

bourgeoisie

e)

socialism

4.

an economic system in which resources and businesses are privately owned and prices are not controlled by the government.

a)

capitalism

b)

free market

c)

union

d)

bourgeoisie

e)

socialism

5.

the upper or wealthy middle class; the people who owned the means of production, or what Karl Marx called "the haves".

a)

capitalism

b)

free market

c)

union

d)

bourgeoisie

e)

socialism

6.

The amount of goods and services available to buy compared with the amount that people want to buy is called supply and (a)   .

7.

a system of representative government that uses elements of capitalism and socialism to govern the economy.

a)

laissez-faire

b)

investor

c)

regulate

d)

social democracy

8.

a person who puts money into a business with the goal of later making a profit.

a)

laissez-faire

b)

investor

c)

regulate

d)

social democracy

9.

a philosophy that calls for very little or no government involvement in the economy.

a)

laissez-faire

b)

investor

c)

regulate

d)

social democracy

10.

to control or put limits on

a)

laissez-faire

b)

investor

c)

regulate

d)

social democracy