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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. Robert Owen wanted to bring an end to what?
(a) Poverty.
(b) Utopian communities.
(c) Monarchies.
(d) Assembly lines.

3. How many of the economists featured in the book made their own fortune?
(a) Seven.
(b) Three.
(c) Nine.
(d) Four.

4. Malthus continued to work on his theory of population and the food supply and assumed that humans could double their number every _________. (fill in the blank)
(a) Thirty-five years.
(b) Fifty Years.
(c) Twenty-five years.
(d) Twenty years.

5. Pamphlets printed at the time of his work compared Malthus with whom?
(a) Napolean
(b) Satan.
(c) God.
(d) Adam Smith.

Short Answer Questions

1. What is the biggest danger facing a modern community?

2. What year did the British Labor Movement begin?

3. Who is to blame for the lack of glamour in the field of economics?

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

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

Short Essay Questions

1. Who was Count Henri de Rouvroy de Saint-Simone?

2. What is the proof that there is not a perfect solution to man's survival?

3. What did most people in ancient societies aspire to?

4. What was the premise of Adam Smith's first book, The Theory of Moral Sentiments?

5. What is the difference between markets and the market system?

6. How did Ricardo and Malthus differ in their views?

7. How did the Corn Laws benefit the landowners?

8. What factors determine a nation's wealth, according to Adam Smith?

9. What is Adam Smith's Invisible Hand Theory?

10. What does Heilbroner say that economists provide?

(see the answer keys)

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