How Well Do You
Know Your
American Economics?
#1
What was the first successful cash crop in the
American colonies?
A: Wheat
B:
cotton
C: corn
D:
tobacco
D: tobacco
#2
Most of the people
in the New England area
made their livings in an industry that
had to do with?
A: Farming
B:
Cash crops
C: Shipbuilding
D:
Trading with Native
Americans
C:
Shipbuilding
#3
Slavery could of died out except for the invention
Of what?
A: The reaper
B: The cotton gin
C: The train
D: Silos
B: The cotton gin
#4
Tariffs supported which area in the US?
A: The South
B:
The West
C: The North
D:
Areas in the Mexican
Cession
C: The North
#5
What war caused the British to go so far in debt that
they began to tax the Americans to help pay.
A: The American
B:
The French and Indian
War
D:
The Civil War
Revolution
C: The War of 1812
B: The
French and
Indian War
#6
Why did the plantation system develop in the South
And not elsewhere in the nation?
A: Religion of colonists
B:
Development of the
American work ethic
C: Quality of land and climate
D:
Governments of South
C. Quality of land and
climate
#14 The economic principle employed by Great
Britain towards its colonies worldwide including those
In America – that colonies exist to provide raw goods
And to purchase goods from the mother nation.
A: Free enterprise
B:
Communism
C: Socialism
D:
Mercantilism
D:
Mercantilism
#8
What was one of the factors that brought about
major changes in the way goods were made and
Increased urban populations?
Developments in
A: transportation made it
easier to travel to the
urban areas.
The building of the
B: Cumberland turnpike
allowed Westerners
access to urban areas.
The use of
interchangeable parts
C: in factories provided
jobs for people.
The invention of the cotton
gin helped increased the
D: productivity of agricultural
products.
C: The use of
interchangeable parts in
factories provided jobs for
people – remember urban
means city!
#9: The concept that individual people should
possess private ownership of
property and business
Is called?
A: Free enterprise
B: Communism
C: Democracy
D:
Mercantilism
A: Free Enterprise
#10
Which invention helped transport goods and people
from the east to the west, and north to the south,
and back more efficiently and quickly?
A: Steamboats
B:
Cotton gin
C: telegraph
D:
Interchangeable parts
A: Steamboat
#11
The surplus of this invention helped
bring the Union to victory against the South
during the Civil War?
A: Colt Revolver
B:
C: Textile Mills
D: Train
Steamboats
D: Train
#12
Who developed the first Bank of the United States?
A: Thomas Jefferson
B:
James Madison
C: Alexander Hamilton
D:
John Jay
C: Alexander
Hamilton
#13
Who was responsible for closing the Bank of the
United States once and for all?
A: Andrew Jackson
B:
James Monroe
C: Thomas Jefferson
D:
John Quincy Adams
A: Andrew
Jackson
#14
Which US President built the Erie Canal?
A: James Monroe
B:
C: Andrew Jackson
D: William Henry
John Quincy Adams
Harrison
B: John
Quincy
Adams
#15
What economical reason did the South
have for supporting slavery that the North
did not?
They were lazier
A: people and didn’t want
to work.
C:
Their economy was based
on an agricultural system
that required a free labor
source.
B:
Their economy was based
on an industrial system
that required a free labor
source.
They grew wheat and
D: corn on subsistence
farms.
C: Their economy
was based on an
agricultural
system that
required a free
labor source.
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