AnswersSS221 World HistoryGeography ALesson 2: The Growth of Cities

New Economic Theories Answers

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During industrialization, which led to an exploration of new economic theories?

A
a war between socialists and capitalists
B
a gap between rich and poor
C
the seizure of property by the government
D
the fight to control businesses by individuals
2
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In terms of production, what best describes the difference between capitalism and socialism?

A
Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.
B
Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.
C
Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.
D
Capitalism is a system in which government should “plan” the economy, but socialism stresses that free market dictates production.
3

This excerpt is from The Wealth of Nations by Adam Smith.“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest.”

A
Businesses acting in their own interests expect something in return for their services.
B
Businesses acting in their own interests give away goods in hopes that consumers will return.
C
Businesses such as butchers, brewers, and bakers are kind hearted and help feed people dinner.
D
Businesses give away their products but want money for the services they provide.
4

As economic theories, socialism and communism sought to

A
encourage private ownership of businesses.
B
even out inequalities of wealth.
C
encourage little government oversight.
D
build housing and schools for workers.
5

What two principles form the basis for capitalism?

A
private ownership and equal wealth
B
free markets and shared property
C
private ownership and free markets
D
free markets and government oversight
6

In a dictatorship of the proletariat, who controls the government?

A
dictators
B
industrialists
C
business owners
D
working classes
7

Which best explains how a mixed economy addressed problems that arose from capitalism?

A
Laissez-faire principles remained, but government passed laws promoting worker safety.
B
Government interference continued, and new laws allowed workers to own companies.
C
Supply and demand remained, and government took control of the means of production.
D
Government regulation was minimal, but new laws protected workers and their standard of living.
8

Workers competed for jobs in the model factory started by Robert Owen because

A
he overpaid them.
B
he built schools.
C
he was famous.
D
he guaranteed jobs.
9

The following passage is from The Communist Manifesto written by Karl Marx in 1848.“Let the ruling classes tremble at a Communist revolution. The proletarians [workers] have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!”

A
Workers are slaves and should be inspired to revolt.
B
Workers should unite in the communist movement.
C
Workers should scare rulers into giving up their wealth.
D
Workers must be asked to incite a revolution against the rich.
10

In a free market, supply and demand determines

A
the type and number of goods produced.
B
the number and distribution of goods produced.
C
the raw materials and tools used to produce goods.
D
the factories and machines used to produce goods.

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