Reforming the Industrial World (WH 9.4)

Question 1

Why did social theorists begin to push for government intervention into the economy?

Accepted Answer

To improve the lives of the poor and working classes

Question 2

Why did theorists like Smith, Malthus & Ricardo oppose government efforts to help poor workers?

Accepted Answer

Profits would be lessened and wealth creation would suffer

Question 3

Focus of the economy is on the law of supply & demand, profit incentive and the individual:

Accepted Answer

Capitalism

Question 4

The intervention of the gov't to redistribute wealth so that more people are provided for:

Accepted Answer

Socialism

Question 5

Which of the following was NOT a change made by British and US reformers in the 19th century?

Accepted Answer

Publicly funded college education for all citizens

Question 6

Called the “Father of Communism”:

Accepted Answer

Karl Marx

Question 7

What is the best description of laissez-faire style of economics:

Accepted Answer

Allow owners of industry to operate without intervention

Question 8

"A state should make decisions based on the greatest usefulness to the greatest number"

Accepted Answer

Utilitarianism

Question 9

How did reformers succeed in changing the lives of workers in Great Britain & the US?

Accepted Answer

Numerous strikers, unions & pressure on politicians

Question 10

The absence of private property and presence of government planning of the economy:

Accepted Answer

Communism

Questions 10