American Industrialization Quiz

What is the economic system where the three basic questions are answered by private individuals and businesses?

• Socialism

• Free enterprise

• Feudalism

• Communism

What is the theory that strong businesses and successful individuals deserve their success and should not be limited?

• Feudalism

• Communism

• Laissez Faire

• Socialism

What is a form of business organization that is owned by stockholders which enable it to raise capital?

• Partnership

• Corporation

• Sole proprietorship

• Limited liability company

What is the process of adjusting to life in a new country called?

• Diversification

• Integration

• Assimilation

• Acculturation

What is the negotiation of wages and other conditions of employment by an organized body of employees called?

• Union bargaining

• Employer bargaining

• Individual bargaining

• Collective bargaining