Communism
What does communism call for from the working class?
A worldwide revolution
Under capitalism, who sets the prices?
The Market
What is urbanization?
The growth of cities
Which ideology advocates for a classless society where resources are distributed based on need?
Communism
Who wrote 'The Communist Manifesto'?
Karl Marx
What is a key feature of a free market capitalist economy?
Minimal government intervention
What is meant by 'mass production'?
The production of large quantities of standardized products
Which economic system is characterized by private ownership of the means of production?
Capitalism
What does 'proletariat' refer to in Marxist theory?
The working class (have nots)
What is a benefit of capitalism?
Encourages innovation and efficiency
What natural resource was crucial for powering machines during the Industrial Revolution?
Coal
Which economic ideology places the economy under the control of the government?
Socialism
What is a 'bourgeoisie' in Marxist theory?
The capitalist class/The rich (haves)
Who wrote about "The Invisible Hand?"
Adam Smith
Which country is generally considered the birthplace of the Industrial Revolution?
Great Britain
What does the term 'means of production' refer to?
The resources and facilities used to produce goods and services
What is laissez-faire capitalism?
An economic system with minimal government intervention
Which social class grew significantly during the Industrial Revolution?
New agricultural techniques leading to a population boom and available workforce