Understanding Industrial Capitalism

What is capitalism primarily characterized by according to John Green?

• Government control and regulation

• Innovation and investment to increase wealth

• Equal distribution of resources

• Isolation from global trade

What is mercantile capitalism?

• An economic system that relies on machines and technology

• A system where merchants borrow money to buy and resell goods at a profit

• A system where the government controls all trade

• A system that eliminates all risks in trade

What was a significant advantage for Britain in developing industrial capitalism?

• Isolation from other countries

• Dominance on the seas and profitable trade with colonies

• Lack of natural resources

• Strict government regulations

What agricultural improvement did the Dutch contribute to?

• Use of chemical fertilizers

• Planting crops like clover to add nitrogen to the soil

• Mechanized farming equipment

• Genetic modification of crops

What was one consequence of the process of enclosure in Britain?

• Increased agricultural productivity and impoverishment of tenant farmers

• Decreased agricultural productivity and wealth for tenant farmers

• More land available for public use

• Elimination of private property

What cultural change was necessary for capitalism to thrive?

• A belief in government control over markets

• A belief in taking risks and appreciating innovation

• A belief in communal ownership of resources

• A belief in isolation from global trade

What did the term "career" originally refer to in the 18th century?

• A person's professional life

• A horse's racing life

• A merchant's trade route

• A farmer's crop cycle

What was one of the main criticisms of industrial capitalism in the 19th century?

• It provided too much leisure time for workers

• It created poor working conditions and long hours

• It eliminated all forms of trade

• It was too focused on agriculture

What was one response by workers to the poor conditions of industrial capitalism?

• Forming labor unions

• Increasing their working hours

• Abandoning all forms of trade

• Supporting more government regulations

What is one reason industrial capitalism developed first in Britain?

• Lack of natural resources

• Civil unrest that led to freer markets

• Complete government control over the economy

• Isolation from global trade