The Industrial Revolution was important to the history of economic systems because it:
A) changed the way people exchanged goods-from barter to using money as a medium of exchange.
B) concentrated wealth in the hands of a few noblemen who then controlled the land in their region, creating a feudal system.
C) increased the wealth of merchants and artisans and eventually led to a change in economic systems to mercantilism.
D) increased the power of capitalists and eventually led to a revolution instituting capitalism as the dominant economic system.
Correct Answer:
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Q21: Capitalism and socialism have not existed forever.
Q22: In contrast to the capitalism of the
Q23: Which of the following is not one
Q24: Most economies today are:
A) pure market economies.
B)
Q25: In a feudalist society, in comparison with
Q27: In principle, socialism is:
A) less concerned about
Q28: Capitalism:
A) is based on private property and
Q29: Suppose that at the current price, waffle
Q30: In the mercantilist system:
A) markets, rather than
Q31: Market and socialist economies can be contrasted
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