AMH 2010 Exam 1 Questions and
Answers 100% Pass
Agriculture and trade in agricultural products and artisan made goods
were dominant - ✔✔Agarian / Commercial Economy
The machine manufacture of goods and the providing of services (doctor,
legal, educational) are the dominant economic activities - ✔✔Industrial /
Service Economy
The economic structure of a society and the role of economic elites in that
society determine the nature and development of all other structures
(political, social, legal, cultural) in a society - ✔✔Economic Determinism
Emphasis on trade (laissez-faire), particularly trade monopolies to acquire
wealth - ✔✔Mercantilism (monopoly capitalism)
1
100% Pass Guarantee Katelyn Whitman, All Rights
, That supply and demand will lead the economy according to natural laws.
That in laissez-faire economies the merchants can control the market.
Competition in a free market would increase productivity, determine
prices, and guide capitalism's maximizing drive for profits - ✔✔Smith's
Wealth of Nations
Nobles/Aristocrats: Military service to the king earns one a fief, a grant of
land.
Clergy (2%): A class deriving from the Catholic Church which had
termendous spiritual and political power in Medieval Christian society.
Commoners (95%): Anyone who wasn't a noble or cleric. They performed
the work of society. Serfs were peasants who worked and lived at the estate
of their master. They couldn't leave as they owed they owed labor services
to the lord - ✔✔Medieval European Classes
The middle class merchants begun as dirt poor commoners but the revival
of trade in the 11th century earned them wealth which gained them
political and social rights in exchange for financial and administrative
support to the king. Their economic power led them to gaining
2
100% Pass Guarantee Katelyn Whitman, All Rights
Answers 100% Pass
Agriculture and trade in agricultural products and artisan made goods
were dominant - ✔✔Agarian / Commercial Economy
The machine manufacture of goods and the providing of services (doctor,
legal, educational) are the dominant economic activities - ✔✔Industrial /
Service Economy
The economic structure of a society and the role of economic elites in that
society determine the nature and development of all other structures
(political, social, legal, cultural) in a society - ✔✔Economic Determinism
Emphasis on trade (laissez-faire), particularly trade monopolies to acquire
wealth - ✔✔Mercantilism (monopoly capitalism)
1
100% Pass Guarantee Katelyn Whitman, All Rights
, That supply and demand will lead the economy according to natural laws.
That in laissez-faire economies the merchants can control the market.
Competition in a free market would increase productivity, determine
prices, and guide capitalism's maximizing drive for profits - ✔✔Smith's
Wealth of Nations
Nobles/Aristocrats: Military service to the king earns one a fief, a grant of
land.
Clergy (2%): A class deriving from the Catholic Church which had
termendous spiritual and political power in Medieval Christian society.
Commoners (95%): Anyone who wasn't a noble or cleric. They performed
the work of society. Serfs were peasants who worked and lived at the estate
of their master. They couldn't leave as they owed they owed labor services
to the lord - ✔✔Medieval European Classes
The middle class merchants begun as dirt poor commoners but the revival
of trade in the 11th century earned them wealth which gained them
political and social rights in exchange for financial and administrative
support to the king. Their economic power led them to gaining
2
100% Pass Guarantee Katelyn Whitman, All Rights
