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History of Economy Review Flashcards | StudBud
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History of Economy Review
History of Economy Review
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Review for the History of Economy Final
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
In Animal Farm, what did the phrase "All Animals are Equal, but some Animals are More Equal Than Others" mean?
Equality is important in communism.
Communist animals are delicious
Animals are incapable of running a socialist state.
Leadership in communism becomes the new upper class.
2
When early hunter/gatherers made decisions and weighed the positive versus the negative, this is known as a...?
Profit Motive
Pull Factors
Push Factors
Cost-Benefit Analysis
3
Great Britain industrialized for all of the following reason except?
the use of massive amounts of slave labor from Africa.
Great natural resources such as coal and Iron ore.
An overseas empire of markets to sell product to.
A supply of food, labor, capital, and risk taking businessmen.
4
When it comes to slavery & human trafficking, which law of economics always holds true?
Dehumanization makes it easy to create supply.
There is always supply regradless of demand.
There is no supply without demand.
You must achieve the equilibrium price.
5
Which nation was the first to industrialize?
Germany
Russia
Unites States
Great Britain
6
Who siezed control of the Soviet Union after the death of Lenin and ruled with a paranoid, violent regime?
Nikita Khrushchev
Joseph Stalin
Grigori Rasputin
Leon Trotsky
7
Which of the following is not an example of being geographically lucky?
Having your land mass stretched East to West
Having your land mass stretched North to South
Having crops that are nutrious and easy to store.
Having availability of domesticable animals
8
The Silk Road is responsible for the movement of which of the following?
Ideas like Buddhism and diseases like bubonic plague.
Crops like corn from the New to the Old World.
Industrial technology from Great Britain to Western Europe.
Ideals like communism making an impact on the working class.
9
According to economists like Adam Smith, free markets thrive on ________ as more products are made at lower prices.
surplus
monopolies
competition
supply & demand
10
What economic system allows the economy to run with no interference from the Gov't?
Command Economy
Traditional Economy
Market Economy
Mixed Economy
11
The Medieval Manor had to be ________________ due to the lack of trade, violence and instability.
trade dependent
heavily defensible
geographically lucky
self-sufficient
12
What economic system is controlled by the government determing what, how, and who product & services are made for?
Traditional Economy
Command Economy
Market Economy
Mixed Economy
13
Dr. Diamond claimed that the civilizations of the world that were more advanced was due to...?
Ethnic superiority
Geographic Luck
Superior weaponry
The Will of God
14
Of all the diseases believed to destroy Native American populations, which is persumed the most destructive?
influnenza
Spanish flu
small pox
bubonic plague (Black Death)
15
To create early civilizations, it requires large _________ of _________ to create specialist.
animals, burden
surpluses, animals
surpluses, food
resources, technology
16
Human trafficking has occurred when ______, ________, & _________ are evident.
Force, tricks, bribery
Force, fraud, coercion
Force, blackmail, coercion
Fraud, blackmail, bribery
17
The Feudal-Manorial system of the Middle Ages made sure that all serfs/peasants had...?
peace, land, protection
food, shelter, protection
peace, land, bread
food, shelter, peace
18
Along the Silk Road, goods were often swapped for other goods, known as..?
Trade
Surplus
Barter
Cost-benefit analysis
19
One of the major impacts of the industrial revolution that made more product available at lower prices was....?
high wages
mass production
urbanization
poor working conditions
20
The people of the Paleolithic Era were hunter/gatherers but the people of the Neolithic Era were...?
the first to industrialize.
the first farmers in history.
better hunters due to creating the AK-47.
the first to practice animism.
21
One of the major impacts of the industrial revolution is the new class system that emerged. What did it create?
serfdom/peasants
An industrial middle class
Rich, land holding lords
A bunch of brand new jobs in the computer tech industry.
22
Positive reasons to migrate to a new place like better resources or jobs would be a..?
pull factors
push factors
profit motive
cost benefit analysis
23
What group was depicted in the epsiode 2 of Guns, Germs, & Steel as the lucky, conquering the Incas?
The Aztecs
The Dutch
The English
The Spanish
24
What two crops came from the New World to the Old that revolutionized the food supply for man and animals alike?
corn & potatoes
corn & rice
potatoes & wheat
rice & wheat
25
Karl Marx believed that the only way to acheive a socialist society was for the workers to unite and....?
start a violent revolution to create a classless system.
start a fight club after work, in which the first rule is..?
demand industrial business leaders do the right thing.
start a utopian society of peace, land, and bread for all
