WorksheetsPRACTICE for TEST M15 L4: Reforming the Industrial World
Total questions: 25
Worksheet time: 13mins
Which of the following is NOT one of Adam Smith's Laws of Economics?
Law of Self-interest
Law of Supply & Demand
Law of Equality
According to Adam Smith, a free market economy works best when it is driven by this natural law of economics
government rules
large corporations
competition
According to Karl Marx, the final stage of human history will be a society without government or social class, which he called
communism
the dictatorship of the wealthy
utilitarianism
Thomas Malthus, who was alarmed about rapid population growth, predicted which of the following?
resources and food would become scarce, causing terrible living conditions and conflicts.
cities would adapt to growing populations by improving sanitary conditions.
the government would regulate child labor.
According to socialists, the solution to poverty and injustice was
armed revolution to overthrow the proletariat.
shared ownership by the people of the means of production.
the charity and good works of the religious community.
Jeremy Bentham, a Utilitarian (Utilitarian Philosophy) reformer, believed that
government should play no role in the economy.
laws should be judged by their usefulness and benefit to the greatest number of people.
the government should make all decisions for the economy.
Karl Marx argued that history was advanced by the conflict between
religions
social classes
nations
Which group of people, inspired by Robert Owen, established communities where all work is shared and all property is owned in common, in the hopes of creating the perfect society?
Utopians
Luddites
Capitalists
Karl Marx despised capitalism (the Free Market) because he believed that it
discouraged labor unions.
limited the individual freedoms of the people.
created prosperity for a few and poverty for many.
“The greatest happiness for the greatest number” was a goal of
laissez-faire.
communism
utilitarianism
“Let the people do as they please” or "No government interference" was central to _________________ philosophy
laissez-faire
communist
socialist
Laissez-faire economists believed this was the best system:
An unrestricted free market with large amounts of private ownership
A government-regulated market with minimal amounts of private ownership
A system in which the most useful workers are compensated the most
Socialists believe that the government should own and operate the means of production in order to
create equality for all in all things
promote competition
encourage new entrepreneurs
According to Karl Marx, what group of people would unite and overthrow the capitalist (free market) system?
rich (bourgeoisie)
slaves
workers (proletariat)
A production method in which workers repeatedly perform one task in the manufacturing process is called
the assembly line.
cottage industry.
interchangeable parts.
Poor working conditions of the nineteenth century (1800s) led to the growth of
the factory system
labor unions
the middle class
Which of the following is a reason why workers gained better pay, a shorter work day , as well as safer working conditions?
Workers revolted against factory owners and took over the means of production.
Workers unions formed and threaten to strike if employers did not meet their demands
Employers believed that paying workers more money would help their profit
This is a political philosophy that argues that all forms of government are harmful and should be done away with entirely
Capitalism
Communism
Anarchism
This is an economic system in which private property does not exist, and all goods and services are shared equally without government or class
Capitalism
Socialism
Communism
This is an economic system which calls for the public ownership of the major means of production, with the primary focus being the welfare of all
Capitalism
Socialism
Anarchism
This is an economic system in which the factors of production are privately owned and money is invested in businesses to make a profit
Capitalism
Socialism
Anarchism
With which statement would Thomas Malthus agree?
Governments shouldn't feed their people during times of famine
The best government is a king who care for his subjects
Government needs to ensure there is full employment
How are socialism and communism similar?
Both believe capitalism causes terrible living and working conditions for the masses
Both believe that governments should be overthrown
Both believe that the workers should control the government
The Wealth of Nations
Adam Smith
Karl Marx (Friedrich Engels)
Jeremy Bentham
The Communist Manifesto
Adam Smith
Karl Marx (Friedrich Engels)
Robert Owen
