All AP World History Resources
Example Questions
Example Question #31 : Economic History
What field of study is Adam Smith credited with creating?
Economics
Anthropology
Psychology
Sociology
Economics
Adam Smith was a prominent academic in the 1700's. He is considered to be the father of the field of economics. He was a prolific writer and theorist on the subject of wealth and how nations economic policies affect each other.
Example Question #1 : Trade, Commerce, And Market Competition 1750 To 1900
What seminal economic text was written by Adam Smith?
Wealth of Nations
The Role of Monetary Policy
Masters of Mankind: Essays and Lectures
A Theory of the Consumption Function
Wealth of Nations
Wealth of Nations was a book written by Adam Smith in 1776. In it Smith describes the outline for how a nation becomes wealthy and how the division of labor falls within a wealthy vs. non-wealthy society. This book is considered a seminal document in the development of free-market capitalism.
Example Question #2 : Trade, Commerce, And Market Competition 1750 To 1900
According to Adam Smith, and other economists of his time, what was the only way for a nation to become wealthy?
At the expense of others
Constant modernization
International trade
By joining with others in an international community
At the expense of others
Smith was an advocate of the idea that a nation could only be wealthy by taking advantage of another nation. He said that since wealth is relative, for a nation to be perceived to be wealthy, it must make another nation poor by comparison. Thus he said the colonial system worked to the benefit of the home nation and at the expense of the colony itself.
Example Question #43 : Economic History
Before the Industrial Revolution merchants were the dominant force in the world economy. What replaced them?
Industry
Governments
None
Agriculture
Industry
As the name might suggest, the Industrial Revolution brought industry to the fore as the main economic power. Merchants and traders wealth were no longer the standard to be measured by as the captains of industry amassed more wealth than the world had ever seen before.
Example Question #1 : Trade, Commerce, And Market Competition 1750 To 1900
Following the Industrial Revolution, what types of companies began to dominate the economy?
Merchant traders
Corporations
Family owned dynasty's
Private conglomerates
Corporations
The Industrial Revolution brought forth the rise of the corporations. While not a new idea, the corporation had been around for 200 years, there had never been as many corporations before, or ones that proved to be as powerful. Corporations began to dominate the economy and determine the fate of nations.
Example Question #2 : Trade, Commerce, And Market Competition 1750 To 1900
Which of the following economic shifts was not a result of the Industrial Revolution?
A resurgence of the cottage industry
Increased competition on the world trade market
Growth of Labor Unions
Cheaper consumer goods
Rise of Big Business
A resurgence of the cottage industry
Cottage Industry practices were against everything the industrial revolution represented. Whereas most manufacturing until the 19th century had occurred in homes or local shops, new technology and urbanization promoted the rise of factories and large companies who manufactured goods cheaply and began trading them around the world.
Example Question #1 : Trade, Commerce, And Market Competition 1750 To 1900
Which of the following nations emerged as an industrial power in the mid 19th century?
Spain
Turkey
Germany
Brazil
South Africa
Germany
Western Europe was the first to modernize, nations such as Great Britain and Germany had the natural and financial resources to industrialize while nations such as Spain and Turkey, as well as South America and Africa lacked the resources needed to keep up with the progress of industry.
Example Question #2 : Trade, Commerce, And Market Competition 1750 To 1900
The United States’ Open Door policy primarily related to __________.
America’s self-proclaimed status as protectorate of South America
immigration reforms that allowed more immigrants to come to America
American’s role in intervening in European conflicts
American trading interests in China and Japan
none of these answers is correct
American trading interests in China and Japan
The United States’ Open Door policy relates to the desire of American businessmen and merchants to have full access to Japanese and Chinese markets. This was achieved in the nineteenth century as the European powers forced access to China and the United States forced access to Japan.
Example Question #3 : Trade, Commerce, And Market Competition 1750 To 1900
The Treaty of Kanagawa __________.
reinforced Japanese isolationism in the nineteenth century
ended Japanese occupation of mainland China
ended the Russo-Japanese war
opened Japan to trade with western nations
led to an alliance between Japan and the United States
opened Japan to trade with western nations
The Treaty of Kanagawa was signed by representatives of the Japanese and American governments in 1854. It opened Japan to trade with western nations, specifically the United States. It also formally ended Japan’s centuries long period of isolationism.
Example Question #4 : Trade, Commerce, And Market Competition 1750 To 1900
Before the outbreak of the Civil War the United States of America was producing roughly __________ of the global supply of cotton.
thirty-five percent
sixty-five percent
ninety percent
twenty-five percent
ninety-five percent
sixty-five percent
The invention of the cotton gin by Eli Whitney in 1793 dramatically accelerated the productive capabilities of America’s cotton plantations. So much so that by the outbreak of the Civil War, seventy years later, America was producing more than half of the global supply of cotton - approximately sixty-five percent.
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