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Questions and Answers
Which revolution marked the transition from manual labor to machine-based manufacturing?
Which revolution marked the transition from manual labor to machine-based manufacturing?
- Agricultural Revolution
- Industrial Revolution (correct)
- Assembly Line Revolution
- Mass Production Revolution
Who is often referred to as the father of modern economics?
Who is often referred to as the father of modern economics?
- Karl Marx
- Karl Smith
- Otto Von Bismarck
- Adam Smith (correct)
Which ideology advocates for the collective ownership of the means of production and the absence of social classes?
Which ideology advocates for the collective ownership of the means of production and the absence of social classes?
- Capitalism
- Mercantilism
- Communism (correct)
- Socialism
During the Industrial Revolution, which invention played a crucial role in the development of mass production and assembly line?
During the Industrial Revolution, which invention played a crucial role in the development of mass production and assembly line?
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Which economic system is characterized by private ownership of the means of production, free market competition, and profit motive?
Which economic system is characterized by private ownership of the means of production, free market competition, and profit motive?
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Which German statesman played a significant role in the unification of Germany and the establishment of the German Empire in the late 19th century?
Which German statesman played a significant role in the unification of Germany and the establishment of the German Empire in the late 19th century?
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