| In The Communist Manifesto, Karl Marx hypothesized that capitalism would fail if workers ___________. | revolted |
| The three main ideas behind capitalism as defined by Adam Smith are | competition, self interest, and laissez-faire. |
| What two principles form the basis for capitalism? | private ownership and free markets |
| This excerpt is from The Wealth of Nations by Adam Smith.”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? | Businesses acting in their own interests expect something in return for their services. |
| The following passage is from The Communist Manifesto written by Karl Marx in 1848.”Let the ruling classes tremble at a Communist revolution. The proletarians [workers] have nothing to lose but their chains. They have a world to win. Working men of all countries, unite!”Which best explains what Marx hoped to get across? | Workers should unite in the communist movement. |
| What moderate reforms did European socialists support? Check all that apply. | assistance for the poorbetter working conditionsminimum wage laws |
| Workers competed for jobs in the model factory started by Robert Owen because | he built schools. |
| In a free market, supply and demand determines | the type and number of goods produced. |
| Karl Marx called for ____________ to control government and develop a classless society. | workers |
| According to Karl Marx, the economic ideas behind socialism would lead to a | communist revolution. |
World Civ: New Economic Theories
June 11, 2020