Adam Smith and Mercantilism

Adam Smith and Mercantilism

Assessment

Flashcard

Social Studies

11th - 12th Grade

Practice Problem

Easy

Created by

Wayground Content

Used 8+ times

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17 questions

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1.

FLASHCARD QUESTION

Front

Identify the famous book written by economist Adam Smith

Back

An Enquiry into the Nature and Causes of Wealth of Nations

2.

FLASHCARD QUESTION

Front

What is the main driving force in a Capitalistic Economy?

Back

Profit Motive

3.

FLASHCARD QUESTION

Front

Adam Smith attacked this economic theory that meant one's power was based on one's wealth...

Back

Mercantilism

4.

FLASHCARD QUESTION

Front

All of the following are negative effects of laissez-faire economics EXCEPT... wealthy nation, child labor, city slums, neglected education

Back

wealthy nation

5.

FLASHCARD QUESTION

Front

"Wealth of Nations" a book by Adam Smith pushed the importance of

Back

supply and demand

6.

FLASHCARD QUESTION

Front

What type of economic system did Adam Smith support?

Back

a free market system

7.

FLASHCARD QUESTION

Front

The one area that Adam Smith believed that the government should NOT be involved: military, property, business, nothing at all

Back

business

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