
Adam Smith
Interactive Video
•
Other
•
10th Grade
•
Practice Problem
•
Hard
Autumn Thomas
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where was Adam Smith born?
Philadelphia
Paris
Scotland
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Specialization?
When a tasks can be broken up into smaller parts. Allowing many people to be very productive working together
When one person learns every step of the production process, and takes a very long time.
When people don’t really care what anyone else does, as long as it gets done on time.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a problem with Specialization?
People get rich too fast
People don’t work together anyway
People feel like their jobs lose meaning
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a product requiring specialized labor?
An old fashioned wooden chair, made by hand by a carpenter named Rusty.
An iPhone designed in California, assembled in Asia using materials mined in Africa.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Surplus wealth?
Wealth that is wasted when you buy too much supply and there is low demand
Wealth created by taxing poor people
Wealth created by profiting off of Luxury goods that could be used to help the poor in society
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of Surplus Wealth being used correctly, according to Smith?
The rich hoarding all of their extra money made from selling luxury goods.
The rich preferring to not spend their money because they live in a spartan society that doesn’t promote luxury goods.
The rich providing hospitals or schools to improve the lives of society’s poor
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a problem with raising taxes, according to Smith?
The rich love to pay higher taxes
The rich will just avoid them anyway.
The rich don’t have an opinion on taxes
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