Use the Following to Answer Questions

question 49

Multiple Choice

Use the following to answer questions :
-steam engines

• A)A term first coined in the 1830s to describe the burst of major inventions and economic expansion that took place in certain industries, such as cotton textiles and iron, between 1780 and 1850.
• B)A simple, inexpensive, hand-powered spinning machine created by James Hargreaves about 1765.
• C)A spinning machine created by Richard Arkwright that had a capacity of several hundred spindles and used waterpower; it therefore required a larger and more specialized mill-a factory.
• D)A breakthrough invention by Thomas Savery in 1698 and Thomas Newcomen in 1705 that burned coal to produce steam, which was then used to operate a pump.
• E)The name given to George Stephenson's effective locomotive that was first tested in 1829 on the Liverpool and Manchester Railway and reached a maximum speed of 35 miles per hour.
• F)The location of the Great Exhibition in 1851 in London, an architectural masterpiece made entirely of glass and iron.
• G)Theory proposed by English economist David Ricardo suggesting that the pressure of population growth prevents wages from rising above the subsistence level.
• H)A government's way of supporting and aiding its own economy by laying high taxes on imported goods from other countries, as when the French responded to the flood of cheaper British goods in their country by imposing high tariffs on some imported products.
• I)English law that led to a sharp decline in the employment of children by limiting the hours that children over age nine could work and banning employment of children younger than nine.
• J)A gender division of labor with the wife at home as mother and homemaker and the husband as wage earner.
• K)English law prohibiting underground work for all women and girls as well as for boys under ten.
• L)Group of handicraft workers who attacked factories in northern England in 1811 and after, smashing the new machines that they believed were putting them out of work.
• M)An individual's sense of class differentiation, a term introduced by Karl Marx.
• N)English laws passed in 1799 that outlawed unions and strikes, favoring capitalist business owners over skilled artisans. Bitterly resented and widely disregarded by many craft guilds, the acts were repealed by Parliament in 1824.

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Definitions:

English Auction

A method of auctioning in which bidders publicly submit increasingly higher bids until no higher bid is offered, and the highest bidder wins the item.

Reservation Price

The highest price a consumer is willing to pay for a particular good or service, reflecting the limit of their willingness to purchase.

Expected Revenue

The total amount of money anticipated to be received from sales of goods or services, based on expected sales volumes and prices.

English Auction

A common auction format where the price starts low and is bid upwards by participants, with the item being sold to the highest bidder.