10 Questions
What was mainly responsible for the tremendous economic transformation in Western Europe and the United States of America in the nineteenth century?
The Industrial Revolution
Which sources of energy and power replaced wind and water powers after the Industrial Revolution?
Coal and Steam
Which economic system has been dominant in the Western world since the collapse of feudalism?
Capitalism
What socio-economic classes were promoted by industrialization, especially during the early modern period?
Proletariat and Bourgeoisie
From what eighteenth-century commerce did modern industrial capitalism arise?
Transatlantic commerce
What was the role of plantation riches and the transatlantic slave trade in the development of capitalism in Europe?
They funded Europe's industrialization and contributed to the rise of capitalism.
What was the impact of the slave trade on British port towns like Liverpool?
It delivered tremendous riches to these port towns.
What is the role of capitalists or bourgeoisie in a capitalist system?
They own the means of production.
How does a capitalist economy differ from a socialist economy's central planning structure?
A capitalist economy is based on free commerce and competition, while a socialist economy has government control over production and distribution.
How was industrialization linked to militarization and nationalism in countries like Germany and Italy?
It led to World War I and the desire to build colonial empires to compete with other powers.
Explore the relationship between capitalism and the Industrial Revolution and how they have shaped the modern economic system. Understand the impact of the Industrial Revolution on the growth and development of capitalism in the Western world.
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