Test: Adam Smith and Economics Quiz

Creada por

Алсу Тагировна

Rusia


Adam Smith and Economics QuizVersión en línea Test your knowledge about Adam Smith and his definition of economics with this quiz game! por Алсу Тагировна 1 What is the name of the economist who is often referred to as the father of modern economics? a John Maynard Keynes b Milton Friedman c Adam Smith d Karl Marx 2 According to Adam Smith, what is the main driving force behind economic growth? a Charitable donations b Government intervention c Luck d Self-interest 3 In Adam Smith's book 'The Wealth of Nations', he argued that the wealth of a nation is determined by what? a Natural resources b Productive labor c Gold reserves d Military power 4 Adam Smith believed that free markets are guided by an 'invisible hand' which leads to what outcome? a Government control b Market instability c Economic efficiency d Income equality 5 According to Adam Smith, what is the role of government in the economy? a Protect property rights and enforce contracts b Distribute wealth equally c Provide free healthcare d Control prices and wages 6 Adam Smith's concept of 'division of labor' refers to what? a Reducing the number of workers b Centralizing decision-making c Sharing profits equally d Breaking down production into specialized tasks 7 What term did Adam Smith use to describe the self-regulating nature of markets? a Protectionism b Communism c Laissez-faire d Socialism 8 Adam Smith argued that individuals pursuing their own self-interest in a free market ultimately benefit who? a Foreign investors b The wealthy elite c The government d Society as a whole 9 According to Adam Smith, what is the primary source of a nation's wealth? a Capital b Labor c Natural resources d Technology 10 Adam Smith's book 'The Theory of Moral Sentiments' focused on what aspect of human behavior? a Economic theory b Ethics and moral philosophy c Psychology d Political ideology

Adam Smith and Economics QuizVersión en línea

Test your knowledge about Adam Smith and his definition of economics with this quiz game!

por Алсу Тагировна

What is the name of the economist who is often referred to as the father of modern economics?

John Maynard Keynes

Milton Friedman

Adam Smith

Karl Marx

According to Adam Smith, what is the main driving force behind economic growth?

Charitable donations

Government intervention

Luck

Self-interest

In Adam Smith's book 'The Wealth of Nations', he argued that the wealth of a nation is determined by what?

Natural resources

Productive labor

Gold reserves

Military power

Adam Smith believed that free markets are guided by an 'invisible hand' which leads to what outcome?

Government control

Market instability

Economic efficiency

Income equality

According to Adam Smith, what is the role of government in the economy?

Protect property rights and enforce contracts

Distribute wealth equally

Provide free healthcare

Control prices and wages

Adam Smith's concept of 'division of labor' refers to what?

Reducing the number of workers

Centralizing decision-making

Sharing profits equally

Breaking down production into specialized tasks

What term did Adam Smith use to describe the self-regulating nature of markets?

Protectionism

Communism

Laissez-faire

Socialism

Adam Smith argued that individuals pursuing their own self-interest in a free market ultimately benefit who?

Foreign investors

The wealthy elite

The government

Society as a whole

According to Adam Smith, what is the primary source of a nation's wealth?

Capital

Labor

Natural resources

Technology

Adam Smith's book 'The Theory of Moral Sentiments' focused on what aspect of human behavior?

Economic theory

Ethics and moral philosophy

Psychology

Political ideology

Adam Smith and Economics Quiz

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Adam Smith and Economics QuizVersión en línea

por Алсу Тагировна

What is the name of the economist who is often referred to as the father of modern economics?

According to Adam Smith, what is the main driving force behind economic growth?

In Adam Smith's book 'The Wealth of Nations', he argued that the wealth of a nation is determined by what?

Adam Smith believed that free markets are guided by an 'invisible hand' which leads to what outcome?

According to Adam Smith, what is the role of government in the economy?

Adam Smith's concept of 'division of labor' refers to what?

What term did Adam Smith use to describe the self-regulating nature of markets?

Adam Smith argued that individuals pursuing their own self-interest in a free market ultimately benefit who?

According to Adam Smith, what is the primary source of a nation's wealth?

Adam Smith's book 'The Theory of Moral Sentiments' focused on what aspect of human behavior?