New Economic Theories:Pre-Test

In Dictatorship of the proletaria, who controls the government?

"Let the ruling classes tremble at a Communist revolution. The proletarians [workers] have nothing to lose but thier chains. They have a world to win. Working Men of all Countries, unite!" which best explains what Marx hoped to get across?

As economic theories, socialism and communism sought to

America's abundance was not created by public sacrifices to "the common good," but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. What does the author argue is most responsible for America's wealth?

What are the characteristics of capitalism? Select all that apply.

"Let the ruling classes tremble at a Communistic revolution. The proletarians [workers] have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!" What was the authors' most likely purpose in writing this passage?

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally leads him to prefer that employment which is most advantageous to the society. According to Smith, what is the primary economic motivation for most people?

Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally leads him to prefer that employment which is most advantageous to the society. According to the passage, how do people pursuing their own self-interests benefit society?

Every great city has one or more slums, where the working-class is crowded together. . . . The streets are generally unpaved, rough, dirty, filled with vegetable and animal refuse [trash], without sewers or gutters, but supplied with foul, stagnant pools instead. . . .The modern art of manufacture has reached its perfection [highest level] in Manchester [in England]. . . . The degradation [disrespect] to which the application of steam-power, machinery and the division of labor reduce the working-man, and the attempts of the proletariat to rise above this abasement [low condition], must likewise be carried to the highest point and with the fullest consciousness. What is the main idea of this passage?

Every great city has one or more slums, where the working-class is crowded together. . . . The streets are generally unpaved, rough, dirty, filled with vegetable and animal refuse [trash], without sewers or gutters, but supplied with foul, stagnant pools instead. . . .The modern art of manufacture has reached its perfection [highest level] in Manchester [in England]. . . . The degradation [disrespect] to which the application of steam-power, machinery and the division of labor reduce the working-man, and the attempts of the proletariat to rise above this abasement [low condition], must likewise be carried to the highest point and with the fullest consciousness. Which of these lines from the text provides a clue that Engels is a socialist and therefore opposed to capitalism?

Karl _________ developed the theory of Communism.

Karl Marx developed the economic theory of

What two principles form the basis for capitalism?

In terms of production, what best describes the difference between capitalism and socialism?

In general, which best explains why communist revolutions did not happen?

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

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

In a free market, supply and demand determines

"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." Which statement best explains Smith's point?

Along with Karl Marx, the German philosopher who helped write The Communist Manifesto was

In The Communist Manifesto, Karl Marx hypothesized that capitalism would fail if workers .

The three main ideas behind capitalism as defined by Adam Smith are free markets, laissez-faire, and fair taxes. competition, self interest, and laissez-faire. laissez-faire, regulation, and self interest. competition, free markets, and trade limits.

During industrialization, which led to an exploration of new economic theories? a war between socialists and capitalists a gap between rich and poor the seizure of property by the government the fight to control businesses by individuals

As economic theories, socialism and communism sought to encourage private ownership of businesses. even out inequalities of wealth. encourage little government oversight. build housing and schools for workers.

What moderate reforms did European socialists support? Check all that apply. assistance for the poor working class revolution better working conditions lack of protections for unions minimum wage laws lack of regulation for prices

Karl Marx called for _____ to control government and develop a classless society.

An economic theory that calls for workers to take control of factories is .

In general, which best explains why communist revolutions did not happen? Workers were too tired and poor to revolt. Moderate socialists were less radical. Capitalist governments enacted reforms. Workers were not convinced they would work.

What did Adam Smith believe?

What two principles form the basis for capitalism?

What is laissez-faire capitalism?

What are three main ideas behind capitalism as defined by Adam Smith?

How did Adam Smith believe fair prices for goods were determined in a capitalist system?

In a free market, what does supply and demand determine?

What is capitalism?

What is socialism?

Karl Marx developed what kind of economic theory?

What is communism?

What is dictatorship?

What does proletariat mean?

During industrialism, what led to an exploration of new economic theories?

Why did workers compete for jobs in the model factory started by Robert Owen?

What best explains how a mixed economy addresses problems that arise from capitalism?

What did Karl Marx think the economic ideas behind socialism would lead to?

What best explains why the communist revolution did not happen?

What problems arose as a result of capitalism with little government oversight?

What moderate reforms did European socialists support?

Who helped Karl Marx write The Communist Manifesto?

What is an economic theory that calls for workers to take control of factories called?

What an economic theory that stresses government management of the production and distribution of goods called?

Who did Karl Marx want to control government and develop a classless society?