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Industrial Rev.
Quiz 2
| Question | Answer |
|---|---|
| What are some differences between the middle and working class during the Industrial Revolution? | Middle class was educated, had decent jobs, and lived in nicer city areas. Working class was uneducated, worked in factories/mines, lived in slums, and protested for better conditions. |
| Why did industrialization spread to different countries at different rates? | Political stability, access to resources, economic strength, and government involvement varied among countries. |
| Why did industrialization in France happen slowly? | Political/economic instability from the French Revolution and a poor coal supply slowed progress. |
| What slowed industrialization in Germany? | Germany was divided into many states with separate governments until unification in 1871. |
| Why did industrialization grow in the U.S.? | Natural resources (coal, oil, iron), railroad expansion, and being forced to produce goods after the War of 1812. |
| What is capitalism? | An economic system where businesses are privately owned and the goal is to make personal profit. |
| What is the main goal of capitalism? | Personal profit and individual economic freedom. |
| What are the pros of capitalism? | Efficiency, personal freedom, and innovation. |
| What are the cons of capitalism? | Wealth inequality, monopoly power, and overconsumption. |
| What is socialism? | An economic system where businesses and production are publicly owned and wealth is shared for the good of all. |
| What is the goal of socialism? | Reduce the wealth gap and provide equality and basic needs for everyone. |
| Why was socialism created? | As a response to the harsh conditions and inequality caused by industrial capitalism. |
| What are pros of socialism? | Access to basic needs, smaller wealth gap, equality of opportunity, some private ownership allowed |
| What are cons of socialism? | Heavy government control, potential corruption, little incentive to innovate, depends on cooperation. |
| Who came up with "laissez-faire," what does it mean? | Adam Smith; means the government should keep its "hands off" business and allow a free market. |
| Who were the bourgeoisie? | The wealthy owners of factories and businesses. |
| Who were the proletariat? | The working-class laborers who worked in factories and mines. |
| What are the main components of communism? | All property is publicly owned, no social classes, and wealth is distributed by need. |
| What are three reason communism might fail? | Lack of rights, no incentives / innovation, harsh or selfish rulers (dictators) |
| What is a labor union? | An organized group of workers that protects their rights and negotiates for better conditions and pay. |
| Why are labor unions important? | They speak for workers, push for safer conditions, fair play, and can strike to create change |