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WorksheetsAdam Smith: Father of Modern Economy
Total questions: 11
Worksheet time: 6mins
Which of the following philosophers and economists influenced Adam Smith?
René Descartes and John Locke
David Hume and Quesnay
Michael Foucault and Karl Marx
Adolf Hitler and Gandhi
Which of the following was a disadvantage of the division of labour concept mentioned by Adam Smith?
Factories generated more income
Workers’ life quality improved
Cities’ economic growth decreased
Ignorant and dissatisfied work force appearance
Which of these theories were invented by Adam Smith and are still in use nowadays? (Choose all that apply)
The Invisible Hand
Gross Domestic Product (GDP)
Mercantilism
Division of Labour
All of the above
Adam Smith is considered the father of modern economy because...
he created capitalism, which is used in many countries nowadays
of his theories on free markets, GDP, supply and demand and capitalism
he influenced big economies' presidents and helped them to grow more
his theories in favour of government intervention in the economy
Based on what was learnt last year, Adam Smith's thoughts influenced...
Neoliberalism
Progressivism
The Invisible Hand is
the natural (unseen) movement of prices, products under supply and demand
How the government, without noticing, controls an economy
how economies were controlled straight after Smith published his books
the increase of workforce to develop the division of labour system
Self-Interest provokes:
The improvement of the economy
Self-enrichment
Accumulation of capital
All of the Above
How many facets of wages did Smith develop?
1
5
3
4
Which economic model was used before Smith's theories?
Mercantilism
Capitalism
Socialism
Communism
What were the benefits of laissez-faire? (Choose all that apply)
Higher work retention
Creative environment
Increase of job loss
All of the above
What were the names of the books by Smith named in the presentation?
''On the revolution of the economic capitalism'' and ''Mercantilism is not possible''
''Wealth of Nations'' and ''Theory of Moral Sentiments''
''Supermoney'' and ''Wealth of Countries''
''Economic Sentiments'' and ''Economic Theory in Retrospect''
