ap euro quiz

mercantilism 5

an early modern economic theory stating that trade generates the wealth of a nation
bullion is the primary determinant for the nation’s wealth
gov intervention in the economy is beneficial to the nation as a whole
total volume of all trade remains fixed
nations can only expand their trade to the detriment of other nations

physiocrats 2

18th century French economists
believe that agriculture generates the wealth of a nation

capitalism 5

an economic theory developed in adam smith’s book wealth of nations
advocates a free market
invisible hand-by trying to increase one’s own capital he unknowingly benefits the whole society
law of competition
gov should allow citizens the freedom to pursue their economic self interests

definition of socialism 2

economic political and philosophical reaction to the industrial revolution in the 19th century
advocates the rights of workers

definition of utopian socialism 2

"a workers paradise” productive work through harmony
an example of a socialist utopia is new harmony

saint-simon 2

french utopian socialist
advocates associations of men/brotherhood of man coupled with current scientific advances

charles fourier 2

19th century french utopian socialist
published theory of the four movements and general destinies

louis blanc 2

19th century utopian socialist
published the book organization of labor

mikhail Bakunin 2

russian revolutionary anarchist
he wrote the revolutionary catechism