Adam Smith VS Karl Marx (RETAKE)

Assessment
•
Stephanie Porter
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History
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9th Grade
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26 plays
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Medium
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15 questions
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1.
Multiple Choice
Adam Smith would most likely agree with 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 (hands off) policy.
2.
Multiple Choice
Laissez-faire capitalism as attributed to Adam Smith called for
heavy taxation of manufacturers
strict government control of the economy
minimal/limited government involvement in the economy
government investments in major industries
3.
Multiple Choice
Which characteristic is associated with an economy based on the principles of laissez-faire?
prices based on supply and demand
production quotas established by the central government
distribution of goods determined by the customs of a traditional society
some goods exchanged for other goods of equal value
4.
Multiple Choice
Adam Smith’s Wealth of Nations stressed the importance of
tradition
supply and demand
large corporations
government ownership on industry
5.
Multiple Choice
What is a key principle of a market economy?
The means of production are controlled by the state.
Supply and demand determine production and price.
Employment opportunities are determined by social class.
Businesses are owned by the people collectively.
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