The First Industrial Revolution

Before the Industrial Revolution, most people were engaged in which occupation?

• manufacturing

• fishing

• farming

• hunting

The major change in the organization of labor in the industrial revolution was

• the development of mass production.

• the shift to an agricultural economy.

• the rise of our computer overlords.

• nothing changed.

Mass production was possible because of the development of interchangeable parts.

• True

• False

The first factories were built next to what source of power?

• animal

• wind

• slavery

• rivers

A person who invests in businesses for profit is known as a

• Socialist

• Capitalist

• Fascist

• Communist

According to the law of supply, if the number of available goods increases, the price will

• increase

• decrease

According to the law of demand, if the supply of goods decreases the price will

• increase

• decrease

The first textile mills were built in

• New England

• the South

• the Midwest

• the Southwest

A "market economy" describes

• a system where the state controls all resources and sets prices.

• a system where resources are privately owned and competition determines prices.

The Lowell "mill girls"

• worked 12-14 hour days.

• were primarily from rural farming communities.

• were paid half the wage a man would earn.

• all of the above