Unit.7.economic.theories.of.IR

Poll

❓ How are you feeling about the snow and cold in general as of today?

• 🥶 So cold I can’t feel my face

• 😐 Meh… just another winter day

• 😊 I kind of like it — cozy vibes

• ❄️🤩 LOVE it! Bring on more snow!

• 🌴😫 I’m ready to move somewhere warm ASAP

Multiple Choice

Which of the following is a key idea of Adam Smith's philosophy during the Industrial Revolution?

• Government should control all production and distribution.

• Individuals acting in their own self-interest can benefit society as a whole.

Multiple Choice

Which economic system is characterized by individuals owning businesses and selling products for profit, as shown in the cartoon?

• Capitalism

• Socialism

Multiple Choice

Which of the following are key ideas associated with Adam Smith's economic philosophy?

• Competition

• Black hand

Multiple Choice

According to the 'Invisible Hand' theory, what happens when manufacturers, innovators, and employees all act in their own self-interest?

• Society improves naturally

• Government must intervene

Multiple Choice

Which of the following best describes Laissez-Faire economics?

• The government should not interfere in the marketplace.

• The state determines what each individual wants.

Multiple Choice

Which of the following are features of a free market economy?

• Private ownership of property

• government determines what you can buy

Multiple Choice

According to critics of laissez-faire capitalism during the Industrial Revolution, who benefited the most under capitalism?

• Business owners

• The working class

Multiple Choice

Which of the following are key beliefs of Karl Marx and Friedrich Engels regarding the progression of society?

• Society moves through stages: feudalism to capitalism to communism.

• Utopian communities are the best way to achieve socialism.

Multiple Choice

What is the main difference between utopian socialism and scientific socialism as described in the images?

• Utopian socialism focuses on perfect societies, while scientific socialism studies history to predict societal shifts.

• Utopian socialism supports capitalism, while scientific socialism opposes it.

Multiple Choice

Select all the impacts of Marxism mentioned in the lesson.

• Influenced the Russian Revolution

• Created the United Nations

Multiple Choice

Which countries carried out revolutions inspired by Marx's ideas?

• Russia and China

• France and Italy

Multiple Choice

Which economic systems are explained in the referenced video?

• Capitalism, Socialism, Communism

• Capitalism, Communism, Fascism

Open Ended

1- 3 items that you learned today: