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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. According to Heilbroner, these men who have had such an impact on society are known as _________. (fill in the blank)
(a) The Money Makers.
(b) The Miracle Workers.
(c) The Great Economists.
(d) The Nine Influences.

2. To Heilbroner, what is the common denominator at the core of these men with diverse backgrounds?
(a) Greed.
(b) Curiosity.
(c) Wisdom.
(d) Intellect.

3. According to Heilbroner, economists changed the world not through __________, but through power of their ideas. (fill in the blank)
(a) Laughter.
(b) Force.
(c) Wealth.
(d) Mischief.

4. Smith was a firm believer in _______________, or leave the market alone. (fill in the blank)
(a) Physiocracy.
(b) Macroeconomics.
(c) Laissez-faire.
(d) Agricracy.

5. It is the forces of ______ that make the market function according to Adam Smith. (fill in the blank)
(a) Gold.
(b) Nature.
(c) Competition.
(d) Wealth.

Short Answer Questions

1. Where was Adam Smith educated?

2. In The Wealth of Nations, _________ are used as examples of how the market functions. (fill in the blank)

3. What took care of early man's inner conflict between himself and the group?

4. What describes how investment can lead to greater output?

5. Heilbroner says through his book, the reader has embarked on _________. (fill in the blank)

(see the answer key)

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