FREE AND STUDY GAMES ABOUT CHAPTER 9

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FREE AND STUDY GAMES ABOUT CHAPTER 9

VOCABULARY EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -19 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: adam smith

Answer:

a professor who defended the idea of a free economy

Question 2: capitalism

Answer:

an economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit

Question 3: laissez faire

Answer:

the economic policy of letting owners of industry and business set working conditions without interference

Question 4: factors of production

Answer:

the resources needed to produce goods and services that the industrial revolution required

Question 5: strike

Answer:

when workers refused to work

Question 6: enclosures

Answer:

enclosed farms with hedges and fences

Question 7: unions

Answer:

workers joined together in voluntary labor associations

Question 8: communism

Answer:

as a form of complete socialism in which the means of production (all land, mines, factories, railroads, and business) would be owned by the people

Question 9: corporation

Answer:

a business owned by stockholders

Question 10: industrial revolution

Answer:

refers to the greatly increased output of machine-made goods that began in england in the middle 1700's

Question 11: stock

Answer:

certain rights of ownership

Question 12: urbanization

Answer:

city building and the movement of people to cities

Question 13: middle class

Answer:

a social class made up of skilled workers, professionals, business people, and wealthy farmers

Question 14: utilitarianism

Answer:

the idea that the government should try to promote the greatest good for the greatest number of people; created by jeremy bentham

Question 15: entrepreneur

Answer:

a person who organizes, manages, and takes o the risks of a business

Question 16: socialism

Answer:

an economic system in which the factors of production are are owned by the public and operate for the welfare of all

Question 17: factories

Answer:

a large building in which machinery is held to manufacture goods

Question 18: crop rotation

Answer:

the system of growing a different crop in a field each year to preserve the fertility of the land

Question 19: industrialization

Answer:

the process of developing machine production of goods