Adam Smiths Life
Where was Adam Smith born?
What is: Kirkcaldy, United Kingdome
What is the name of Adam Smiths most famous book?
What is: The Wealth of Nations
What concept did Adam Smith create to describe the self-regulating nature of markets?
Answer: The Invisible Hand
Which philosopher friend of Adam Smith shared his interest in reason and moral philosophy?
What is: David Hume
What does Adam Smith’s “invisible hand” idea relate to in today’s economy?
What is: Self Regulated market or Free enterprise
What year was Adam Smith born
What is: 1723
What year was his most famous book published?
What is: 1776
According to Adam Smith, what two forces drive economic growth?
Answer: Self-interest and competition
Who was another Scottish thinker who influenced Smith’s ideas about ethics?
What is: Francis Hutcheson
What global issue today might Smith have posted about on an Instagram story?
What is: Global Trade
What is: 67😛
What society was Adam Smith a member of?
What is: The Royal Society and the Royal Society of Edinburgh
What does the “Invisible Hand” represent?
Answer: How individual actions unintentionally benefit society as a whole
Which economist later expanded on Smith’s ideas about trade and value?
What is: David Ricardo
What do we call the system of trade and production influenced by Smith’s thinking?
What is: Capitalism
Where did Adam Smith go to university.
What is: The University of Glasgow
What university did Adam Smith later teach at, and was the centre of the Scottish Enlightenment?
What is? The University of Glasgow
What type of economy did Adam Smith support?
Answer: Free market
Which economist strongly disagreed with Smith’s capitalist ideas?
What is: Karl Marx
What concept did Adam Smith use to describe people acting on there own self-intrest?
What is: The Invisible Hand
What is Adam Smiths nickname given to him by the world of economics?
What is: The Father if Economics (Capitalism)
What modern field of study did his most famous book help create?
What is: Economics
What did Adam Smith believe governments should mainly focus on instead of controlling markets?
What is one of the following: Enforcing the law, Providing basic needs and infastructure and protecting property
What group of early French economists inspired Smith’s thinking about natural economic laws?
What is: The Physiocrats
Is Adam Smith the goat of economics?
What is: Yes