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This quiz consists of 5 multiple choice and 5 short answer questions through The Victorian World and the Underworld of Economics.

Multiple Choice Questions

1. _________ was based on true wealth only being created in agriculture. (fill in the blank)
(a) Physiocracy.
(b) Agricracy.
(c) Macroeconomics.
(d) Laissez-faire.

2. The Victorian period marked the beginning of what important movement?
(a) Communism.
(b) American democracy.
(c) Socialism.
(d) European imperialism.

3. The world of economics was subject to the ridicule of whom?
(a) Leon Walras.
(b) Stanley Jevrons.
(c) Francis Ysidro Edgeworth.
(d) Frederic Bastiat.

4. At what university was Adam Smith on the faculty?
(a) University of England.
(b) Oxford.
(c) Harvard.
(d) University of Glasgow.

5. In The Wealth of Nations, _________ are used as examples of how the market functions. (fill in the blank)
(a) Corn and wheat.
(b) Rents and costs.
(c) Gloves and shoes.
(d) Boots and hats.

Short Answer Questions

1. Who started New Lanark?

2. Assigning tasks by command to ensure that all necessary tasks are performed is what type of system?

3. How many years did it take Adam Smith to finish The Wealth of Nations?

4. The fact that man is _________ makes survival difficult. (fill in the blank)

5. Robert Owen wanted to bring an end to what?

(see the answer key)

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