Module 21 Adam Smith & Karl Marx

Imagine you're in a bustling marketplace, and you hear someone shout "laissez faire!" What are they likely referring to in the world of economics?

• Letting owners of industry set working conditions without interference

• Government control of markets

• Heavy tariffs on foreign goods

• Strict regulation of businesses

Imagine you're in a lively debate club with Sophia, Benjamin, and Scarlett. The topic of discussion is a groundbreaking economic book from the 18th century. Can you guess the title of this influential work published by Adam Smith?

• The Communist Manifesto

• The General Theory of Employment, Interest, and Money

• Das Kapital

• The Wealth of Nations

Imagine Elijah, Zoe, and Liam are on a treasure hunt. What did Adam Smith argue would happen if each of them followed their own self-interest in finding the treasure?

• Economic chaos

• Social harmony

• Government control

• Increased tariffs

During the Industrial Revolution, Samuel and Maya are curious about the mysterious forces of supply and demand. What magical effect did these forces have on the bustling factories of the time?

• They decreased food supplies.

• They reduced the need for textile production.

• They increased the demand for cheap labor.

• They caused a decline in population.

Imagine you're in a lively debate club with Charlotte, Daniel, and Maya. What policy would laissez-faire thinkers likely argue against?

• Free market systems

• Government efforts to help poor workers

• Private ownership of production

• Increased taxation on the wealthy

Imagine Mason and Hannah are discussing the impact of the Industrial Revolution. According to Marx and Engels, what dramatic change did it bring to society?

• It enriched the wealthy and impoverished the poor.

• It enriched the poor and impoverished the wealthy.

• It had no effect on society.

• It created equal wealth for everyone.

Imagine you're in a lively debate club with Mia, Isla, and Nora. The topic of the day is: What did Marx predict would happen to the capitalist system?

• It would thrive and expand indefinitely, like Mia's collection of comic books.

• It would eventually destroy itself, much like Isla's attempts at baking without a recipe.

• It would remain unchanged, just like Nora's favorite pair of sneakers.

• It would become a monarchy, with Mia as the queen of snacks.

Imagine you're in a lively debate club with Daniel, Henry, and Liam. Adam Smith would most likely cheer for which statement?

• Revolution is the only solution to economic problems.

• Five-year plans are necessary in order to industrialize.

• All nations would benefit from an agricultural economy.

• Government should follow a laissez-faire policy.

Imagine you're in a lively debate club with Aria and Michael, discussing Adam Smith’s Wealth of Nations. What key concept does Smith emphasize in his groundbreaking work?

• tradition

• supply and demand

• large corporations

• government ownership

Imagine you're in the 1800s, and Isla, Ava, and Arjun are discussing the writings of Marx, Engels, and Dickens. Whose challenges are they passionately debating about?

• factory owners

• investment bankers

• farm laborers

• industrial workers