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BrainPop - Adam Smith Flashcards | StudBud
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BrainPop - Adam Smith
BrainPop - Adam Smith
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A #BrainPop on #AdamSmith
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
In "The Wealth of Nations," Adam Smith uses the term "invisible hand" as a(n):
Metaphor
Punch line
Theme
Example
2
In which image would Adam Smith say wealth is being created?
B
D
A
C
3
Mr. H runs his class w/ a laissez-faire attitude. What can you conclude about him as a teacher?
He likes to give pop quizzes
He doesn't tolerate any talking out of turn
He is very strict
He doesn't hand out a lot of detentions
4
Which of these activities is an example of a non-zero-sum game?
D
B
A
C
5
Which of the following businesses would a mercantilist government be most likely to support?
A city-wide chain of grocery stores
A restaurant with food suppliers from around the world
A specialty shop selling goods from neighboring countries
A textile mill with clients in many other nations
6
In economic terms which of the following merchants is selling a good?
An ice cream truck driver
A psychologist
A math tutor
A TV repairman
7
Which of the following statements is an opinion?
Mercantilist governments focused on increasing exports
Mercantilism preceded the rise of laissez-faire economics
A free market economy is superior to a mercantilist economy
Mercantilists had a more inflexible view of wealth than us
8
Which of the following would be an example of the "economic pursuit of self-interest?"
An amateur astronomer discovering a new asteroid
A famous rock star donating proceeds from a song to charity
A drug company selling medicine that saves people's lives
Volunteering to help clean up a dirty stretch of highway
9
What theme ties Adam Smith's two major works together?
Social responsibility
Individual liberty
Supply and demand
Division of labor
10
Adam Smith viewed government interference in business w/ skepticism. Antonym for skepticism =
Faith
Alarm
Doubt
Ambivalence
