Which of These Historical Events Led to the Emergence of the Luddites

question 10

Multiple Choice

Which of these historical events led to the emergence of the Luddites?

• A) the Industrial Revolution
• B) the computer revolution
• C) socialism
• D) the civil rights movement

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Definitions:

Law Of Demand

The economic principle stating that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a specific price level.

Capital Market

The input/factor market in which households supply their savings, for interest or for claims to future profits, to firms that demand funds to buy capital goods.

Investment

New capital additions to a firm’s capital stock. Although capital is measured at a given point in time (a stock), investment is measured over a period of time (a flow). The flow of investment increases the capital stock.