Physiocratic

Question 1

It is a group of economic thinkers who share or shared a common perspective on the way economies work.

Answer 1

school of economic thought

Question 2

Physiocracy is more Focused on the Idea of __________?

Answer 2

Agricultural Society

Question 3

Physiocratic School of Thought was founded by who?

Answer 3

François Quesnay

Question 4

It came from a French word “Physio”(Nature) and “Cracy”(rule)

Answer 4

PHYSIOCRATIC SCHOOL OF ECONOMICS

Question 5

Marquis de Mirabeau published __________ in 1756

Answer 5

“L’Ami des Hommes”

Question 6

He advocate of Free Trade

Answer 6

marquis de Mirabeau

Question 7

He is the father of Phisiocracy

Answer 7

François Quesnay

Question 8

In 1758 François Quesnay wrote the _____________ or also known as Economic Picture

Answer 8

Tableau Economique

Question 9

In the Tableau Economique, the country is broadly divided into three classes, what are those classes?

Answer 9

> The productive class (classe productive)
The class of proprietors (class des propriétares)
The sterile (or unproductive) class (classe sterile).

Question 10

He believed in the Theory that free trade was the best way of resolving scarcity

Answer 10

A.R JACQUES TURGOT

Question 11

What are the major tenets of Physiocracy?

Answer 11

> NATURAL ORDER
LAISSEZ-FRAIRE( FREE TRADE)
AGRICULTURE AS AN IMPORTANT SECTOR
TAXATION ON AGRICULTURE
AGRICULTURE IS WEALTH