Adam Smith Invisible Hand

Adam Smith Invisible Hand

9th Grade

11 Qs

quiz-placeholder

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Adam Smith Invisible Hand

Adam Smith Invisible Hand

Assessment

Quiz

Other

9th Grade

Medium

Created by

Alisa Detrick

Used 13+ times

FREE Resource

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who wrote: The Theory of Moral Sentiments and The Wealth of Nations.

John Smith

Adam Smith

Adam Jones

John Jones

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free market, when more people decide they want a particular item _

Prices go down, prompting an increase in quantity supplied

Prices go up, prompting an increase in quantity supplied

Prices go up, prompting a decrease in quantity supplied

Prices don’t change, resulting in a shortage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__ act as an incredible price-discovery mechanism.

Computers

Algorithms

Search engines

Markets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

eBay is a great example of ________.

A free market

A highly-regulated market

A monopoly

A system in which sellers have the advantage over buyers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The free market is about ____________.

cooperation between buyers and sellers

businesses taking advantage of people

competition between buyers and sellers

planning and direction by experts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Invisible Hand concept explains ____________.

people and systems working together with no one directing them

businesses taking advantage of customers

helping those who are disadvantaged

economic planning and direction by experts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The prices we're willing to pay ____________.

are too low

are irrelevant

send key signals to producers

are unfair

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