Identify the concept

Question 1

The Greek name for household management, also the title of Xenophon’s book

Answer 1

Oikonomikos

Question 2

The first real school of thought in the history of economic thought, they emphasize the importance of agriculture and perceive industry as unproductive

Answer 2

Physiocrats

Question 3

Mathematical methodology of Jeremy Bentham for quantifying pleasure and pain.

Answer 3

Felicific Calculus (related to utilitarianism)

Question 4

Metaphor for price adjustments, used in the work of Léon Walras.

Answer 4

Walrasian Auctioneer

Question 5

The title of Joseph Schumpeter’s book, in which Schumpeter decides that capitalism will not prevail and be replaced by socialism

Answer 5

“Capitalism, Socialism and Democracy”

Question 6

The invisible hand

Answer 6

Adam Smith

Question 7

The corn model

Answer 7

David Ricardo

Question 8

Conspicuous consumption

Answer 8

Thorstein Veblen

Question 9

Money illusion

Answer 9

Irving Fisher

Question 10

Market socialism

Answer 10

Oskar Lange