Capitalism practice quizVersion en ligne capitalism market economy par Shaner Adams 1 Why did people become merchants during the Age of Exploration? a The feudal system created a merchant class to serve the military. b The manor system ran out of resources to make goods. c They could make money buying and selling luxury goods. d Trade restrictions cut off the supply of goods to villages. 2 Who formed a market economy during the Age of Exploration? a Merchants in Europe and the colonies. b Wealthy landlords. c European governments. d Small farmers in Europe. 3 Why did the middle class begin to demand an economic system other than mercantilism? a Mercantilism gave merchants too much control over the economy. b Mercantilism did not let merchants control business and trade. c They lost all their ships to wealthy landlords because of mercantilism. d Mercantilist leaders were found to be frauds. 4 What led to the development of the capitalist system? a socialism and communism. b mercantilist trade. c the middle class and absolute monarchies. d Steel technologies and accounting. 5 What is the government’s role in capitalism? a The government controls manufacturing and banks. b The government decides what will be produced. c People do not own their own property. d The government lets entrepreneurs control production and prices. 6 Buying and selling of luxury goods during the Age of Exploration led to the development of a: a policy of isolationism among European countries. b class of wealthy merchants. c unified European currency like the Euro. d pact of economic cooperation among European nations. 7 Merchants formed a market economy by: a joining together in large inter-oceanic trade guilds. b taxing the mother countries at every port along their trade routes. c buying goods where there was good supply, and selling where there was high demand. d demanding regular wages from the kings and queens they sailed for. 8 Mercantilism was rejected by the merchant middle class because merchants: a wanted to return to the protections of the feudal economic system. b were afraid of competition with foreign nations including China and Japan. c resented the large labor guilds in mainland Europe. d wanted to have more control over their own goods and prices. 9 The trade that was created by mercantilism eventually led to: a an international crisis of crowded sea-lanes. b a demand for laissez-faire capitalism. c the unification of European nations' currencies. d the collapse of Asian and African economies. 10 The government's role in a capitalist economy is to: a regulate international trade to favor the home country. b allow free trade of private property with prices set by supply and demand. c set price supports to make luxury goods more affordable for low-income citizens. d enact protectionist measures to discourage forien competition.
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