A History of Europe Exam
With answers
How did the improvement in the standard of living (over the last 150yrs), come about? - answer-
Not because of capitalism!
Because of science and technology developing machines for mass production, resulting in lower
prices for basic commodities.
Main features of capitalism - answer--Private and not public property-Individual ownership of the
"means of production" rather than collective.
-Pursuit of personal gain over community interests.
-Importance of class system.
-Competition, with the "market forces" of supply and demand influencing wages and prices more
or less and in varying degrees.
---- Creation of "black market" usually when governments intervene to determine wages and
prices.
Capitalism--Positive potential for... - answer--Stimulation of imagination in the pursuit of profits.
-Encouragement of individual hard work.
-Reward of talent, ingenuity, and labor.
-Material comfort for some, riches for few.
-Fulfillment of world progress, growth and expansion.
Capitalism--Negative capability of the frequent... - answer--Triumph of individualistic greed &
selfishness/destruction of community interests & social obligations
-Dishonesty or unethical behavior to acquire wealth
-Abuse of lower-class persons by upper-class persons; resulting in conflict, crime and violence
-Big difference or gaps between rich and poor
-Excessive emphasis on material possessions
-Elevation of personal profits over principles
Identification of "capital"... - answer--Money (metallic or material), to be used as a convenient
medium for the exchange of products and services.
-Physical possessions owned by individuals.
Revolutionary Economic Changes_In Commerce - answer-Since 1500, a steady increase in
international trade between Europe and the outside world. In the 1700 produced a tremendous
expansion in the volume of world commerce.
- - Superior ship construction/improvements in navigational instruments
- - Innovation of marine insurance/Lloyds of London
- - Cont. development of overseas colonial empires
- - Increase exchange of indigenous food-crops
Indigenous food-crops - answer-American- potato, corn, cocoa
European- cereal grains (wheat, barley, oats, rye), and animals (horses, cattle, sheep, and pigs)
, Ethiopia- Coffee beans
China- Tea
Revolutionary Economic Changes_In Agriculture - answer-Production of greater yields of food
due to...
-Technological advances/mechanical devices that replaced laborers
-Introduction of new crops that increased fertility of soil- turnips & clovers
-Discontinuation of noblemen renting land to many tenant farmers-instead cultivating
themselves with new technology, increasing profits and efficiency
In Agriculture- Momentous consequences - answer--Trend moved from- growing a variety of
crops on small plots of land for local sell, to- large single crop farms for distant sell
-Small-scale farmers and laborers forced to move to urban areas in seek of jobs
-Anticipation of modern agri-business and corporate farming of today
-Importance of demography- study of populations, where they live, why they move, and what
their jobs are
Factors that prepared Europe for the Industrial Revolution - answer--Rise of modern commercial
capitalism
-Foundation and exploitation of overseas colonies, empires, and trading posts
-Economic policies of mercantilism-emphasized promotion of economical growth
-Existence of their "competitive state-system"
-Enlightenment & Scientific Revolution
-Protestant Reformation- stressing hard work, thrift, perseverance, and willfulness (riches are a
sign of Gods blessings)
Industrial Revolution - answer-A period of rapid growth in the use of machines in manufacturing
and production that began in the mid-1700s
Calvinism - answer-A sect of Christianity created by John Calvin after Luther's teaching in 1533.
Believes in Predestination, in which a person's fate of receiving salvation or not is
predetermined by God. Calvinists also believe that certain people are predestined to go to Hell.
Those who believed in predestination were encouraged to practice thrift, industry, sobriety, and
personal responsibility, which were thought of as signs that a person had been elected for
salvation.
Marcantilism - answer-Economic policy under which nations sought to increase their wealth and
power by obtaining large amounts of stuff. Sold more than bought. Their theories and practices:
-Primary goal-attainment of wealth and power thru national self-sufficiency
-Achievement of "exports exceeding imports"
-Stimulation of deficiencies in farming with subsidies and tax exemptions
-Accumulation of gold & silver
-Consider entire nation more important than the individual
With answers
How did the improvement in the standard of living (over the last 150yrs), come about? - answer-
Not because of capitalism!
Because of science and technology developing machines for mass production, resulting in lower
prices for basic commodities.
Main features of capitalism - answer--Private and not public property-Individual ownership of the
"means of production" rather than collective.
-Pursuit of personal gain over community interests.
-Importance of class system.
-Competition, with the "market forces" of supply and demand influencing wages and prices more
or less and in varying degrees.
---- Creation of "black market" usually when governments intervene to determine wages and
prices.
Capitalism--Positive potential for... - answer--Stimulation of imagination in the pursuit of profits.
-Encouragement of individual hard work.
-Reward of talent, ingenuity, and labor.
-Material comfort for some, riches for few.
-Fulfillment of world progress, growth and expansion.
Capitalism--Negative capability of the frequent... - answer--Triumph of individualistic greed &
selfishness/destruction of community interests & social obligations
-Dishonesty or unethical behavior to acquire wealth
-Abuse of lower-class persons by upper-class persons; resulting in conflict, crime and violence
-Big difference or gaps between rich and poor
-Excessive emphasis on material possessions
-Elevation of personal profits over principles
Identification of "capital"... - answer--Money (metallic or material), to be used as a convenient
medium for the exchange of products and services.
-Physical possessions owned by individuals.
Revolutionary Economic Changes_In Commerce - answer-Since 1500, a steady increase in
international trade between Europe and the outside world. In the 1700 produced a tremendous
expansion in the volume of world commerce.
- - Superior ship construction/improvements in navigational instruments
- - Innovation of marine insurance/Lloyds of London
- - Cont. development of overseas colonial empires
- - Increase exchange of indigenous food-crops
Indigenous food-crops - answer-American- potato, corn, cocoa
European- cereal grains (wheat, barley, oats, rye), and animals (horses, cattle, sheep, and pigs)
, Ethiopia- Coffee beans
China- Tea
Revolutionary Economic Changes_In Agriculture - answer-Production of greater yields of food
due to...
-Technological advances/mechanical devices that replaced laborers
-Introduction of new crops that increased fertility of soil- turnips & clovers
-Discontinuation of noblemen renting land to many tenant farmers-instead cultivating
themselves with new technology, increasing profits and efficiency
In Agriculture- Momentous consequences - answer--Trend moved from- growing a variety of
crops on small plots of land for local sell, to- large single crop farms for distant sell
-Small-scale farmers and laborers forced to move to urban areas in seek of jobs
-Anticipation of modern agri-business and corporate farming of today
-Importance of demography- study of populations, where they live, why they move, and what
their jobs are
Factors that prepared Europe for the Industrial Revolution - answer--Rise of modern commercial
capitalism
-Foundation and exploitation of overseas colonies, empires, and trading posts
-Economic policies of mercantilism-emphasized promotion of economical growth
-Existence of their "competitive state-system"
-Enlightenment & Scientific Revolution
-Protestant Reformation- stressing hard work, thrift, perseverance, and willfulness (riches are a
sign of Gods blessings)
Industrial Revolution - answer-A period of rapid growth in the use of machines in manufacturing
and production that began in the mid-1700s
Calvinism - answer-A sect of Christianity created by John Calvin after Luther's teaching in 1533.
Believes in Predestination, in which a person's fate of receiving salvation or not is
predetermined by God. Calvinists also believe that certain people are predestined to go to Hell.
Those who believed in predestination were encouraged to practice thrift, industry, sobriety, and
personal responsibility, which were thought of as signs that a person had been elected for
salvation.
Marcantilism - answer-Economic policy under which nations sought to increase their wealth and
power by obtaining large amounts of stuff. Sold more than bought. Their theories and practices:
-Primary goal-attainment of wealth and power thru national self-sufficiency
-Achievement of "exports exceeding imports"
-Stimulation of deficiencies in farming with subsidies and tax exemptions
-Accumulation of gold & silver
-Consider entire nation more important than the individual
