Font size
WorksheetsEarly U.S. Economic Systems Quiz
Total questions: 10
Worksheet time: 15mins
The free enterprise system is characterized by (a) .
Imagine a scenario where the production of coffee beans decreases due to poor weather conditions, but the demand for coffee remains unchanged. What happens to the price of coffee in this situation?
The price decreases
The price remains the same
The price increases
The product is removed from the market
Which of the following best describes the Industrial Revolution?
An era that moved from agriculture to factories as the primary source of income
A movement towards the manual labor over machinery
A significant increase in the mass production of goods, by the use of machinery and new technologies
A shift from industrial production back to homemade goods
An entrepreneur is best described as someone who:
Works for the government to ensure that businesses follow the law
Invests in the stock market to support new companies
Organizes, manages, and assumes the risks of a business or enterprise
Provides labor to a company without seeking profit
What was a primary goal of the labor reform movement?
To increase the export of goods
To decrease the influence of entrepreneurs
To improve working conditions and secure rights for workers
To promote the use of machinery over manual labor
Which sentence best completes this diagram?
Cities grew rapidly.
Demand for artisans increased.
Farms experienced a shortage of labor.
Government regulation of factories increased.
How did new methods of mass production contribute to the Industrial Revolution?
New products were all made by hand.
Businesses used sharecropping to increase the production of goods.
New products were made quickly and cheaply
Cities became ghost towns because machines replaced manual labor.
