Industrialization & Capitalism Review

Industrialization began in

• The United Kingdom

• Germany

• France

• The United States

The economic philosopher who developed Capitalism is:

• Karl Marx

• Adam Smith

• John Stuart Mill

• David Hume

The philosophy of capitalism was laid out in a book called

• The Communist Manifesto

• The Philosophy of Economics

• An alternative to mercantilism

• The Wealth of Nations

Capitalism puts the most emphasis on

• Equality & Cooperation

• Government ownership of businesses

• Competition & profits

• Social Programs & Taxation

The economic system that capitalism replaced was called:

• Mercantilism

• Imperialism

• Colonialism

• Communism

Which of the following statements about mercantilism is false

• Mercantilism exploited the natural resources of colonies

• Mercantilism allowed colonies to produce finished goods

• Mercantilism exploited indigenous people around the world

• Mercantilism involved both imports and exports

Which of the following was not a cause of the Industrial Revolution?

• The Agricultural Revolution

• Abundance of natural resources such as iron, coal and water

• A stable system of government

• The creation of labour laws

The Industrial Revolution and Capitalism represents

• A shift from quantity of products to quality of products

• A shift from quality of products to quantity of products

• A shift from machine to electrical power

• A shift from electrical to machine power

The average work day in the Industrial Revolution was:

• 12 hours

• 14 hours

• 16 hours

• 10 hours

The technique developed in factories to mass produce goods more efficiently is called:

• The Skilled or Custom Industry

• Mercantilism

• The Cottage Industry

• The assembly line