AP®︎ World History: Topic 5.7 Practice Test
Prepare for your quiz, test, or the AP exam with focused practice questions on Topic 5.7 of AP World History – Economic Developments and Innovations in the Industrial Age.
Questions List
Topic 5.7
Question 1 Easy
Adam Smith’s The Wealth of Nations promoted the idea that markets should be guided by
What You’re Being Tested On:
Explore the learning objectives taken directly from the College Board’s AP® World History: Modern Curriculum. Ensure you’re prepared for the exact topics covered on the AP® exam, in-class tests, and quizzes, and gain confidence in your mastery of the material.
Topic 5.7: Economic Developments and Innovations in the Industrial Age
Thematic Focus: Economic SystemsECN
As societies develop, they affect and are affected by the ways that they produce, exchange, and consume goods and services.
Learning Objective: Unit 5: Learning Objective H
Explain the development of economic systems, ideologies, and institutions and how they contributed to change in the period from 1750 to 1900.
Historical Developments: KC-5.1.III.A
Western European countries began abandoning mercantilism and adopting free trade policies, partly in response to the growing acceptance of Adam Smith’s theories of laissez-faire capitalism and free markets.
Historical Developments: KC-5.1.III.B
The global nature of trade and production contributed to the proliferation of large-scale transnational businesses that relied on new practices in banking and finance.
Historical Developments: KC-5.1
The development of industrial capitalism led to increased standards of living for some, and to continued improvement in manufacturing methods that increased the availability, affordability, and variety of consumer goods.
Illustrative Examples specific knowledge students should know & demonstrate
- Hong Kong and Shanghai Banking Corporation (HSBC)
- Unilever based in England and the Netherlands and operating in British West Africa and the Belgian Congo
- Stock markets
- Limited-liability corporations
