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Callen Test 1 > Test 1- Adam Smith > Flashcards

Test 1- Adam Smith Flashcards

1
Q

Did he believe in Laissez-Faire?

A

Yes

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2
Q

Worldwide what?

A

Free trade

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3
Q

Mercantilism is good or bad?

A

Bad

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4
Q

Supply and demand?

A

Yes

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5
Q

What 4 things did he believe in?

A

Wages, profit, manufacture, and trade

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6
Q

Happiness is based on you what?

A

Working

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7
Q

If you are not working you are what?

A

Causing problems

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8
Q

Education for who?

A

Everyone

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9
Q

What is free enterprise and did he believe in it?

A

Any business you want and yes

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10
Q

4 purposes of government

A

Provide protection for the people from the people
Protect the nation
Protect businesses rom other businesses
Public works- all of the facilities a nation needs

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11
Q

Type of government

A

Any type of government with a business set in mind (Free Trade) anything other than DROK

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12
Q

Did he believe in tariffs?

A

No

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Callen Test 1 (16 decks)

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