upgrade

AP World History AMSCO Guided Notes

5.7: Economic Developments and Innovations

AP World History
AMSCO Guided Notes
5.1 The Enlightenment
5.2 Nationalism and Revolutions
5.3 Industrial Revolution Begins
5.4 Industrialization Spreads
5.5 Technology in the Industrial Age
5.6 Industrialization: Government's Role
5.7 Economic Developments and Innovations
5.8 Reactions to the Industrial Economy
5.9 Society and the Industrial Age
5.10 Continuity and Change in the Industrial Age

AP World History Guided Notes

AMSCO 5.7 - Economic Developments and Innovations

Essential Questions

  1. How did the development of economic systems, ideologies, and institutions contribute to change between 1750 and 1900?
I. Economic Developments and Innovations

1. How did Adam Smith's ideas about capitalism and laissez-faire economics challenge the mercantilist system?

2. What role did transnational institutions like HSBC and Unilever play in expanding global trade and consumer goods?

A. Effects on Business Organization

1. Markets with One Seller

1. What is a monopoly and how did companies like Krupp Steel and Standard Oil achieve monopolistic control?

2. Companies Working Across Boundaries

1. What were transnational companies and what advantages did operating across national boundaries provide them?

2. How did Cecil Rhodes' railroad project and Unilever's plantation operations reflect colonial economic exploitation?

3. Corporations

1. What is a corporation and how did it differ from sole proprietorships and partnerships?

2. What are the four key features of a corporation and how did each feature reduce business risk?

3. How did the growth of corporations affect their economic and political power in communities?

4. Banking and Finance

1. How did insurance and banking institutions help reduce risk and support economic growth during industrialization?

B. Effect on Mass Culture

1. How did industrialization create a culture of consumerism and what role did advertising play in promoting consumption?

2. What leisure activities became popular in the late 1800s and how did technological innovations like the safety bicycle make them more accessible?

3. Why did companies encourage workers to participate in athletics and what social benefits did they believe sports provided?

4. How did sports and leisure activities develop along class lines, and what does this reveal about social divisions in industrial societies?

5. What was the purpose of constructing public music halls and parks, and how did they reflect efforts to influence working-class behavior?

Key Terms

corporations

stockholders

stock market

monopoly

Cecil Rhodes

transnational

Hong Kong and Shanghai Banking Corporation

Unilever Corporation

consumerism

Bessemer process