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Chapter 14.1 Quiz Prep Flashcards | StudBud
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Chapter 14.1 Quiz Prep
Chapter 14.1 Quiz Prep
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1
Define Entrepreneur
People who work for the government
People who invest money in a product to make a profit
Business owners who give away products to people who need them
Social workers that work with people on a daily basis
2
Which of these was not one of the main products of the Second Industrial Revolution?
Oil
Electricity
Steam Power
Steel
3
Henry Bessemer:
Created the home building standard process
Built the transcontinental railroad
Powered entire cities with electrical grids
Mass-produced strong, lightweight steel
4
Which system stresses the importance of the concept “Laissez - Faire” if the government should intervene in economics?
Socialism
Capitalism
5
What is the translation of "Laissez - Faire" in French?
Ladies Love Cool James
Let it be and let it pass
Livin' la vida loca
Live and let die
6
A system for turning out large numbers of products quickly and inexpensively.
Limited production
Industrialization
Surplus Overhaul
Mass production
7
This system relies on competition and supply and demand to set the price points for which people pay to buy things.
Socialism
Capitalism
8
This system is governed by self-interests.
Socialism
Capitalism
9
Who created the telephone?
Samuel Morse
Alexander Graham Bell
Ron Swanson
Alexander Hamilton
10
Which system do you think holds the interests and the protection of the workforce at a much higher level of importance?
Socialism
Capitalism
11
Define Free Market
Prices determined by unrestricted competition between private business.
A marketplace in which producers and consumers trade with eachother
A store where everything is free
Prices are determined by the government setting/regulating prices
12
Define Socialism
Being social within a new environment
People make profits to support their own lives
Means of production owned by the government for benefit of whole country
Individuals trying to make a profit
13
Gives an inventor exclusive right to develop, use, and sell an invention for a set period of time.
Trademark
Certification
Partition
Patent
14
How many different time zones do we have?
15
77
24
26
15
Define Capitalism
A country’s trade and industry and controlled by private owners of profit.
Economics controlled by the government
Community efforts to provide social welfare to all people
The study of state capitals
16
Where did most immigrants to the U.S. come from in the late 1800s/early 1900s?
Canada and South America
Australia
Africa
Asia and Europe
17
Protects the words, phrases, symbols, logos, or other devices used to identify the source of goods
Watermark
Copyright
Patent
Trademark
18
This system’s products and service prices are set and strictly regulated by the government or a state entity.
Capitalism
Socialism
19
Who drilled the first oil well in Titusville, PA?
Cornelius Vanderbilt
John D. Rockefeller
Andrew Carnegie
Edwin Drake
20
Who was the creator of the light bulb?
Thomas Edison
Thomas Kleinfelder
George Westinghouse
Samuel Morse
