Who is considered the father of modern economics?

Exploring Adam Smith's Economic Principles

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Business
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9th - 12th Grade
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Medium

Olivia Brooks
Used 2+ times
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
David Ricardo
Adam Smith
Milton Friedman
John Maynard Keynes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What book did Adam Smith write that laid the foundations for modern economics?
The General Theory
Das Kapital
Principles of Political Economy
The Wealth of Nations
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economic theory dominated before Adam Smith's 'The Wealth of Nations'?
Capitalism
Socialism
Mercantilism
Feudalism
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What did Adam Smith argue was outdated during his time?
Monarchy
Feudalism
Mercantilism
Capitalism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What major historical events coincided with the publication of 'The Wealth of Nations'?
The French Revolution and the American Revolutionary War
The Industrial Revolution and the American Civil War
World War I and the Russian Revolution
The Enlightenment and the Spanish Succession
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Adam Smith, what are the three primary factors of production?
Labor, machines, capital
Land, labor, entrepreneurship
Land, money, technology
Land, labor, capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'capital' in economic terms include according to Adam Smith?
Government bonds
Only physical assets
Resources like machinery and patents
Only money
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