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This deck focuses on Economic Practice And Development, giving you a quick way to review the definitions, rules, and examples that matter most for AP European History.
AP European History Flashcards: Economic Practice And Development
Study Economic Practice And Development in AP European History with focused flashcards that help you recognize the idea, recall the key rule, and apply it in practice-style prompts.
AP European History
Economic Practice And Development
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QUESTION
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What term is used for land consolidation in 18th-century England?
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ANSWER
Enclosure Movement. Privatized common lands, increasing agricultural efficiency and rural displacement.
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Flashcard 1: What term is used for land consolidation in 18th-century England?
Answer: Enclosure Movement. Privatized common lands, increasing agricultural efficiency and rural displacement.
Flashcard 2: Which economic theory focuses on government intervention to stabilize the economy?
Answer: Keynesian economics. John Maynard Keynes advocated government spending to combat economic downturns.
Flashcard 3: Which industrial sector was first transformed during the Industrial Revolution?
Answer: Textile industry. Cotton production mechanization launched industrial manufacturing transformation.
Flashcard 4: What was the primary currency system in Europe before the euro?
Answer: European Currency Unit (ECU). Basket currency preceding the euro, used for European monetary calculations.
Flashcard 5: What was the 16th-century economic impact of the influx of New World silver to Europe?
Answer: Price Revolution. American silver caused widespread inflation across European economies.
Flashcard 6: Which economic system is characterized by private ownership and free markets?
Answer: Capitalism. Private enterprise system driven by profit motive and competition.
Flashcard 7: What was the economic system in Eastern Europe post-World War II?
Answer: State socialism. Communist governments controlled all economic production and distribution centrally.
Flashcard 8: What economic strategy was employed in Western Europe for post-war recovery?
Answer: Reconstruction. Rebuilding infrastructure, industries, and institutions after wartime destruction.
Flashcard 9: What institution was formed in 1944 to promote international monetary cooperation?
Answer: International Monetary Fund (IMF). Established at Bretton Woods to stabilize global currencies and lending.
Flashcard 10: Which economic policy involves government ownership of industry?
Answer: Socialism. Collective ownership of production means, contrasting with private capitalism.
Flashcard 11: Identify the doctrine that advocates for a self-sufficient national economy.
Answer: Autarky. Economic isolation policy minimizing imports and foreign economic dependence.
Flashcard 12: What term describes the 19th-century shift from agrarian to industrial economies?
Answer: Industrial Revolution. Mechanization and factory systems transformed production and society.
Flashcard 13: What was the economic impact of the Black Death in 14th-century Europe?
Answer: Labor shortages. Massive population decline increased surviving workers' wages and bargaining power.
Flashcard 14: Which economic theory focuses on government intervention to stabilize the economy?
Answer: Keynesian economics. John Maynard Keynes advocated government spending to combat economic downturns.
Flashcard 15: What term is used for land consolidation in 18th-century England?
Answer: Enclosure Movement. Privatized common lands, increasing agricultural efficiency and rural displacement.
Flashcard 16: Name the 18th-century economist known for 'The Wealth of Nations.'
Answer: Adam Smith. Father of modern economics, advocating free markets and division of labor.
Flashcard 17: What was the economic doctrine of the Soviet Union during the 20th century?
Answer: Communism. Classless society with collective ownership, as implemented by Soviet Union.
Flashcard 18: What economic system dominated Europe between the 9th and 15th centuries?
Answer: Feudalism. Land-based hierarchy system with lords, vassals, and agricultural serfs.
Flashcard 19: What economic system dominated Europe between the 9th and 15th centuries?
Answer: Feudalism. Land-based hierarchy system with lords, vassals, and agricultural serfs.
Flashcard 20: What is the economic term for the restriction of imports through tariffs?
Answer: Protectionism. Shields domestic industries from foreign competition through trade barriers.
Flashcard 21: What was the 16th-century economic impact of the influx of New World silver to Europe?
Answer: Price Revolution. American silver caused widespread inflation across European economies.
Flashcard 22: What term describes 17th-century government-backed monopolies for overseas trade?
Answer: Chartered Companies. Royal charters granted exclusive trading rights in specific regions.
Flashcard 23: What was the primary economic practice in medieval Europe?
Answer: Feudalism. Land-based hierarchy system with lords, vassals, and agricultural serfs.
Flashcard 24: What was the economic doctrine of the Soviet Union during the 20th century?
Answer: Communism. Classless society with collective ownership, as implemented by Soviet Union.
Flashcard 25: Name the 18th-century economist known for 'The Wealth of Nations.'
Answer: Adam Smith. Father of modern economics, advocating free markets and division of labor.
Flashcard 26: Which 19th-century economist is associated with the theory of comparative advantage?
Answer: David Ricardo. Developed theory that nations should specialize in most efficient production.
Flashcard 27: What was the primary economic philosophy during the Age of Exploration?
Answer: Mercantilism. Emphasized national wealth through exports and gold accumulation.
Flashcard 28: What economic change occurred due to the Agricultural Revolution?
Answer: Increased production. Improved farming techniques and crops boosted food supply and population.
Flashcard 29: What was the primary currency system in Europe before the euro?
Answer: European Currency Unit (ECU). Basket currency preceding the euro, used for European monetary calculations.
Flashcard 30: Identify the 20th-century economic agreement that created the European Union.
Answer: Maastricht Treaty. 1992 treaty establishing European Union and common currency framework.
Flashcard 31: What was the primary economic system in Eastern Europe before 1989?
Answer: Communism. State-controlled economies dominated until 1989 revolutions brought democratic capitalism.
Flashcard 32: Which economic policy involves government ownership of industry?
Answer: Socialism. Collective ownership of production means, contrasting with private capitalism.
Flashcard 33: Which 18th-century movement emphasized reason and individualism in economic thought?
Answer: The Enlightenment. Promoted rational thinking and individual economic freedom over traditional authority.
Flashcard 34: Identify the economic theory that emphasizes class struggle and revolution.
Answer: Marxism. Karl Marx's theory predicting capitalism's collapse through worker revolution.
Flashcard 35: What institution was formed in 1944 to promote international monetary cooperation?
Answer: International Monetary Fund (IMF). Established at Bretton Woods to stabilize global currencies and lending.
Flashcard 36: Name the economic theory that advocates for minimal state intervention in markets.
Answer: Laissez-faire. French for 'let do,' promoting free market competition without government regulation.
Flashcard 37: Which 19th-century economist is associated with the theory of comparative advantage?
Answer: David Ricardo. Developed theory that nations should specialize in most efficient production.
Flashcard 38: What was the economic impact of the Black Death in 14th-century Europe?
Answer: Labor shortages. Massive population decline increased surviving workers' wages and bargaining power.
Flashcard 39: Identify the economic plan to rebuild Europe post-World War II.
Answer: Marshall Plan. US aid program providing $13 billion to rebuild war-torn European economies.
Flashcard 40: What was the economic system in Eastern Europe post-World War II?
Answer: State socialism. Communist governments controlled all economic production and distribution centrally.
Flashcard 41: Identify the system that transferred goods between Europe, Africa, and the Americas.
Answer: Triangular Trade. Connected three continents through slave, sugar, and manufactured goods exchange.
Flashcard 42: Which economic crisis began in 1929 and affected the global economy?
Answer: Great Depression. Worldwide economic collapse triggered by Wall Street stock market crash.
Flashcard 43: What economic change occurred due to the Agricultural Revolution?
Answer: Increased production. Improved farming techniques and crops boosted food supply and population.
Flashcard 44: Who is the economist known for the concept of 'invisible hand'?
Answer: Adam Smith. Father of modern economics, advocating free markets and division of labor.