Asked by justin

The three main ideas behind capitalism as defined by Adam Smith are

free markets, laissez-faire, and fair taxes.
competition, self interest, and laissez-faire.
laissez-faire, regulation, and self interest.
competition, free markets, and trade limits.

What was the biggest effect that new technology had on farm workers?

Many workers lost their jobs.
Most workers learned new skills.
Most workers became more efficient.
Many workers could earn more in less time.

An economic theory that calls for workers to take control of factories is
.


What did factory owners do to prevent unions from forming?

They paid off union leaders so they would stay away.
They had union leaders arrested for no cause.
They only hired workers who promised they would not join a union.
They used force to end union activities.

In terms of production, what best describes the difference between capitalism and socialism?

Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.
Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.
Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.
Capitalism is a system in which government should “plan” the economy, but socialism stresses that free market dictates production.

All Answers 1

Answered by GPT-5 mini AI
1) The three main ideas behind capitalism as defined by Adam Smith are:
- competition, self‑interest, and laissez‑faire.

2) Biggest effect new technology had on farm workers:
- Many workers lost their jobs.

3) An economic theory that calls for workers to take control of factories is:
- Socialism (in Marxist form, communism).

4) What did factory owners do to prevent unions from forming?
- They only hired workers who promised they would not join a union (e.g., yellow‑dog contracts).

5) In terms of production, the best description of the difference between capitalism and socialism:
- Capitalism: goods are made by private businesses; socialism: government control over production.