AP World History : Economic History

Study concepts, example questions & explanations for AP World History

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Example Questions

Example Question #12 : Trade, Commerce, And Market Competition 1750 To 1900

The seminal capitalist text, The Wealth of Nations, was written by __________.

Possible Answers:

Adam Smith

Thomas Hobbes

Jean-Jacques Rousseau

Thomas More

John Locke

Correct answer:

Adam Smith

Explanation:

The Wealth of Nations was published by the enlightenment thinker Adam Smith in 1776. The Wealth of Nations outlines how nations can and do acquire wealth. It was widely influential and contributed to the break from mercantilism and the embracing of free market capitalism that marked Europe in the early years of the Industrial Revolution.

Example Question #51 : Economic History

Triangle Trade involved what three continents? 

Possible Answers:

North America, South America, and Europe 

Europe, Asia, and North America 

South America, Asia, and North America 

Africa, South America, and Europe 

Africa, Europe, and North America

Correct answer:

Africa, Europe, and North America

Explanation:

Triangle trade involved large scale trade of goods and slaves in the Atlantic ocean between Europe, North America, and Africa. In this trade system slaves were sent from Africa to North America; sugar, tobacco, and cotton were sent to Europe; and textiles, rum, and manufactured goods were sent to Africa. 

Example Question #12 : Trade, Commerce, And Market Competition 1750 To 1900

The Slave Trade Act (1807) abolished the slave trade for which country and its territories?

Possible Answers:

Germany

France

United States of America

Spain

United Kingdom

Correct answer:

United Kingdom

Explanation:

The Slave Trade Act was passed by the Parliament of the United Kingdom in 1807.

Example Question #51 : Economic History

Which of these countries was the last to embrace the Industrial Revolution?

Possible Answers:

Japan

United States

Britain

Germany

Russia

Correct answer:

Russia

Explanation:

The Industrial Revolution began first in Britain. It then spread outward to Northern Europe, countries like France and Germany embraced the Industrial Revolution in the early nineteenth century. The United States was swept up in the Industrial Revolution by the mid nineteenth century and was shortly thereafter joined by Japan (following the Meiji Restoration in 1868). Russia, with its massive serf population and agrarian society, was not well-suited to the adoption of the Industrial Revolution. It took many decades of forced social change and economic hardship before Russia finally embraced the Industrial Revolution at the dawn of the twentieth century.

Example Question #52 : Economic History

During the Industrial Revolution the demand for __________.

Possible Answers:

raw resources and slaves increased dramatically, as the demand for manufactured goods increased slightly

raw resources and manufactured goods increased dramatically

raw resources declined substantially, as the demand for manufactured goods increased dramatically

raw resources and manufactured goods declined significantly

raw resources increased dramatically, as the demand for manufactured goods declined substantially

Correct answer:

raw resources and manufactured goods increased dramatically

Explanation:

During the Industrial Revolution the demand for raw resources, to be used in manufacturing and heavy industry, increased dramatically. Subsequently the standard of living began to rise as more luxury goods became more readily available to the common person, which led to a further increase in the demand for manufactured products. In this way the Industrial Revolution reinforced itself - industrial innovations led to a demand for more raw resources; rising wages and availability of luxury goods led to an improved standard of living; improved standard of living led to a demand for more manufactured products, which in turn led to a renewed demand for more raw resources.

Example Question #1 : Trade, Commerce, And Market Competition 1900 To Present

What canal has been the object of dispute in the Middle East, especially between Egypt and neighboring countries or England?

Possible Answers:

Martian Canal

Suez Canal

None of these

Panama Canal

Correct answer:

Suez Canal

Explanation:

The Suez Canal is located in the Middle East and has led to many disagreements in the area. For example, the Suez Canal Crisis involved the dispute over its usage between Egypt, Israel, Great Britain, and France. It took international involvement to help temporarily resolve these disagreements.

Example Question #1 : Trade, Commerce, And Market Competition 1900 To Present

The Twenty-One Demands were intended to __________.

Possible Answers:

protect Japanese trading interests in British, French, and American colonies in South Asia and the Pacific

ensure Chinese control over the Korean peninsula and Manchuria and guard against Japanese invasion

protect British, French, and American interests in China and Japan

ensure the stability of the newly instated revolutionary government of China led by Sun Yat-Sen

ensure Japanese control over China and hegemony in the Far East

Correct answer:

ensure Japanese control over China and hegemony in the Far East

Explanation:

The Twenty-One Demands were issued by the Japanese government to the Chinese government in 1915. They were intended to ensure Japanese control over China and regional hegemony in the Far East. The Chinese, in no position to dispute the demands after their recent revolution and in the midst of their so-called “century of humiliation,” gave in to Japanese demands and allowed Japan to take control of Manchuria and much of the Chinese economy.

Example Question #2 : Trade, Commerce, And Market Competition 1900 To Present

The Panama Canal was constructed to connect _______________.

Possible Answers:

the Arabian and Mediterranean seas

the Atlantic and the Pacific oceans

the Atlantic and the Indian oceans

the Arctic and Atlantic oceans


the Pacific and Indian oceans

Correct answer:

the Atlantic and the Pacific oceans

Explanation:

The Panama Canal was constructed by American authorities in Panama in the first decades of the twentieth century. Prior to the construction of the Panama Canal, ships had to sail all the way around South America to trade between the Atlantic and Pacific Oceans. The construction of the Panama Canal dramatically reduced the amount of time required and accelerated America’s growth as an imperial and economic world power.

Example Question #51 : Trade, Commerce, And Market Competition

The Truman Doctrine and the Marshall Plan were primarily designed to __________.

Possible Answers:

combat the influence of communist China in southern Asia

stop the spread of communism through military confrontation

stop the spread of communism through international aid

combat the influence of the Warsaw Pact

stagnate the Soviet economy through trade embargoes and sanctions

Correct answer:

stop the spread of communism through international aid

Explanation:

The Truman Doctrine was an American foreign policy implemented by President Truman in 1947. Its stated goal was to stop the spread of communism and prevent Soviet hegemony. The doctrine was solidified in 1948 with America giving significant financial aid to Greece and Turkey to discourage the spread of communism in these countries. The Marshall Plan, similarly, was designed to prevent the spread of communism in Europe by providing aid to help rebuild European economies.

Example Question #1 : Trade, Commerce, And Market Competition 1900 To Present

The World Trade Organization grew out of __________.

Possible Answers:

the International Monetary Fund

the European Economic Community

the European Union

the League of Nations

the General Agreement on Tariffs and Trade

Correct answer:

the General Agreement on Tariffs and Trade

Explanation:

The General Agreement on Tariffs and Trade first came into effect in 1948. It was an agreement between more than twenty different countries to try and reduce obstacles to free trade and limit tariffs. It subsequently grew over the course of the twentieth century until 1994 when it had a membership of 123 countries. In 1994 the member countries signed an agreement to grow the General Agreement on Tariffs and Trade into the World Trade Organization.

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