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This quiz consists of 5 multiple choice and 5 short answer questions through The Wonderful World of Adam Smith.

Multiple Choice Questions

1. Assigning tasks by command to ensure that all necessary tasks are performed is what type of system?
(a) Market.
(b) Tradition.
(c) Authority.
(d) Religion.

2. What did Heilbroner say was one of the factors bringing about the economic changes to a market system?
(a) Foreign exploration.
(b) The Industrial Revolution.
(c) The growth of factories.
(d) The end of religion.

3. Eventually the market system evolved with its necessary factors of _________ for production. (fill in the blank)
(a) Land, labor, and capital.
(b) Religion, custom, and authority.
(c) Land, factories, and capital.
(d) Traditions.

4. What took care of early man's inner conflict between himself and the group?
(a) Medicine.
(b) The environment.
(c) The elders.
(d) Psychiatry.

5. What did all of the these economists do?
(a) Influenced a king.
(b) Never married.
(c) Died penniless.
(d) Wrote a book.

Short Answer Questions

1. What helped bring an end to the religiousness of the population in Europe?

2. What kind of survival has man faced from the earliest days on?

3. In ancient society, there was no need for political economy or to see what made the economy function because it was all based on what?

4. _________ is concerned with finding some reason for the cosmos. (fill in the blank)

5. Adam Smith defined wealth in terms of what?

(see the answer key)

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