Chap 3

Question 1

..is an economic theory which holds that the wealth of nations derived solely from the value of
“land agriculture” or “land development” and that agricultural products should be highly priced

Answer 1

Physiocracy

Question 2

from the greek for government of nature

Answer 2

Physiocratie

Question 3

The Physiocrat movements are group of French Economists

Answer 3

enlightenment thinkers

Question 4

On fiscal matters, the Physiocrats famously pushed for their __________ on land rents

Answer 4

single tax

Question 5

the social order dictated by nature’s laws

Answer 5

ordre naturel

Question 6

positive order, or the social order dictated by human ideals

Answer 6

ordre positif

Question 7

renowned for its famous “zig-zag” depiction of income flows between economic sectors– to explain his doctrine.

Answer 7

Francois Quesnay

Question 8

his contribution lays in his identification of the 3 main problems for the economic development of Spain as:

Answer 8

Miguel de Zavala y Auñón

: 1) the nature and complexity of the tax
system;
2) the scarcity of agricultural production; and
3) the decrease in economic activity

Question 9

“The signals of happiness in Spain, and the means to make them effective”, represents an important understanding of a pre-industrialized economy
and the interdependencies of agriculture, manufactures and trade

Answer 9

Francisco Roma y Rosell

Question 10

presents some ideas relative to “the unification of the legal system”, as a potential source of
happiness for Spain

Answer 10

Francisco Roma y Rosell

Question 11

“I understand here by happiness that state of abundance and comforts that every good
government should procure for its individuals.”

Answer 11

Gaspar Melchor de Jovellanos

Question 12

One of the key pieces of the reformism of was the liberalization of colonial trade
through the Royal Regulations and Tariffs for free trade from Spain to the Indies

Answer 12

Carlos III, Seville’s economic society