WorksheetsEconomic History [1]
Total questions: 15
Worksheet time: 10mins
Which of the following is NOT a characteristic of capitalism?
government control of the economy
competition and consumer sovereignty
private ownership
pursuit of personal profit
Which phrase best illustrates the theory of laissez-faire capitalism?
the state establishing production quotas
decisions related to distribution being based on community traditions
central planning committees setting prices on goods
businesses operating with little government regulation
This style of economy was based on competition, self interest and supply/demand.
capitalism
mercantilism
socialism
communism
Select the best definition of "Industry".
the production of manufactured goods
the trading of manufactured goods
owning a cleaning company
making your own products at home
Which of the following is NOT true about Henry Ford's Assembly Line?
Each worker performed one or two tasks over and over
Production was faster and cheaper
Since the price of cars dropped so much, many more people could buy them
A highly skilled worker created one product at a time and worked on it until finished
What was the period in the late 1800s when US manufacturing experienced rapid growth?
Industrial Revolution
American Revolution
Second Industrial Revolution
Scientific Revolution
Karl Marx warned that post-industrial revolution society would be marked by -
Conflict between political and religious institutions over access to citizens' wealth
A backlash against modernity resulting in a reversion of feudal customs
more politicians serving the common good
conflict between the owners of the means of production and the working class.
Imperialism refers to -
A political and / or economic control of one area or country by another
The moral responsibility of Europeans to "civilize" "primitive" people
Rule by military force, supported by the landed elites
Movements to establish greater democracy
