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Wealth and the World
Social Science · Kerala SSLC (Class 10) · English Medium · 31 questions and answers
Sample questions
- Q: What is mercantilism?
- A: Mercantilism was an economic policy that held that a nation's wealth depended on the amount of gold and silver it possessed, and it encouraged more exports than imports.
- Q: What is meant by the Industrial Revolution?
- A: The changes in production brought by using machines in manufacturing in England between 1780 and 1850. It began in the textile industry.
- Q: In which country did the Industrial Revolution begin?
- A: The Industrial Revolution began in England (Britain).
- Q: Through which stages did capitalism develop according to the chapter?
- A: Merchant capitalism (after the geographical explorations), then industrial capitalism (factory production), then finance capitalism (banks, stock markets, investment).
- Q: What were the core principles of socialism?
- A: Fair distribution of goods and resources and common ownership of the means of production. It arose as a response to industrial capitalist exploitation.
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