Ch. 7 Quiz #3

Opposed government intervention in private businesses Laissez-faire
Negotiations between labor and management Collective-bargaining
Private ownership and distribution of goods competitively in a free market Capitalism
Collective or government ownership of production and distribution Socialism
Mass movement to the city Urbanization
Freedom of private businesses to compete and operate for profit Free enterprise
Is considered an important work on socialism: Communist manifesto
Wrote of the deplorable factory conditions in England Dickens and Disraeli
Don’t agree with the free enterprise system: Communists
Believe in the seizure of government by violent means: Communists
Gave a voice against employer abuse to factory workers: Labor unions
The law of supply and demand is foundational to a: Laissez-faire economy
Factors improving the lives of factory workers included: Labor improvement laws, labor unions, books by dickens and Disraeli
Social changes resulting from the industrial revolution included: Urbanization, growing socialism, and poor living and working conditions
Investors in corporations who share in the profits Stockholders
Interchangeable parts Standardized parts
Merger of several businesses into one Consolidation
Controlled corporation practices Federal trade commission
Exclusive control of a product Monopoly
The piece by piece assembling of a product Assembly-line
Change from manual labor to machine Industrial revolution
Factory workers had their grievances heard through a process called: Collective bargaining
Taxes placed on imported goods to raise their prices are called: Tariffs
Factories were first powered by_______________ then changed to _____________power Water; steam
Disadvantages of factory life were endured largely by: Children

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