S32 RI2 Quiz 1

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S32 RI2 Quiz 1

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1. The industrial revolution resulted in great wealth but it also created major social concerns. These social concerns included all but one of the following. CHOOSE THE EXCEPTION.

a. There was increased poverty in general.

b. Great wealth in the hands of very few people.

c. Poor living conditions were commonplace.

d. There were excellent economic opportunities for all.

Clear selection

Use the source for question #2

2. The central message of the cartoon is that

a. Businesses pay their workers too much

b. Businesses cut wages to remain competitive

c. Employees are well respected

d. Employees need to improve customer relations

Clear selection

3. “Eight hours a day of labor is enough for any human being, 12 or 16 are too many. For this he should be able to afford ample food, clothing and shelter, for the remainder of his time he is entitled to education, recreation and sleep.” This quote was most likely stated by:

a. A believer in Adam Smith’s economic ideas

b. A utopian socialist

c. An owner of a coal mine in 19th century Britain

d. A classical liberal economist

Clear selection

4. Which concept is most closely associated with capitalism?

a. economic cooperation

b. rejection of profit

c. the invisible hand

d. collectivism

Clear selection

5. Which statement explains why large numbers of children were employed in factories and mines in Britain during the Industrial Revolution?

a. Children were given early training for productive, well-paying jobs in later life.

b. Wages were so low that everyone had to work for the family to be able to survive.

c. Work was easy in factories and the pay adequate so that children wanted to work.

d. There was a shortage of labor, as all men and most women were already working.

Clear selection

6. The political and economic ideology that caused the deplorable working and living conditions of the poor was:

a. Socialism

b. Liberalism

c. Communism

d. Fascism

Clear selection

7. Which Economic System correctly completes the diagram?

A. Mixed economy

B. Public enterprise economy

C. Laissez-faire economy

D. Command economy

Clear selection

8. Karl Marx, the founder of communism, criticized 19th century capitalists for

A. exploiting the working classes by paying low wages for labor

B. failing to produce the variety of goods demanded by the consumer

C. failing to create the conditions for economic growth and prosperity for all

D. exploiting the upper classes through high personal income tax

Clear selection

9. How would supporters of capitalism (Adam Smith) most likely have responded when the Alberta government closed government-owned liquor stores and allowed private businesses to take over sales of alcohol?

A. With disapproval, because they believed it would eliminate jobs in the civil service

B. With approval, because they believed it would improve service and ensure the lowest possible prices to consumers

C. With disapproval, because they believed it would encourage greater alcohol consumption and create social problems

D. With approval, because they believed it would mean that government could freely raise taxes on alcohol to increase its revenue

Clear selection

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