10 Questions
Which of the following is NOT true about Adam Smith?
He believed people always act in the best interests of society
What did Adam Smith's book 'The Theory of Moral Sentiments' focus on?
Human nature and ethics
According to the passage, what did Smith believe about the capacity for humans to care about others?
All people had the capacity to care about others
What is the 'invisible hand' that Smith referred to?
The unintended positive consequences of self-interested actions
What was Adam Smith's view on self-interest in economic matters?
He believed it was beneficial to society
Which of the following is true about Adam Smith's early life?
His father was a customs official in Kirkcaldy, Scotland
What did Adam Smith often argue for in Glasgow debating societies?
Free trade
In what year did Adam Smith publish 'The Wealth of Nations'?
1776
What was Adam Smith's occupation at the University of Glasgow?
Professor of Philosophy
Which of the following statements is NOT supported by the passage?
Adam Smith argued for government regulation of markets
Study Notes
Adam Smith's Life and Works
- Born in 1723 in Kirkcaldy, Scotland, as the son of a customs official
- Entered the University of Glasgow at 14, and later attended Oxford in England to study philosophy
- Became a professor of philosophy at Glasgow in 1751
The Theory of Moral Sentiments (1759)
- Explored human nature and ethics
- Argued that all people have the capacity to care about others, despite their selfish nature
- Believed that people's self-interest leads to unintentional benefits for society
The Wealth of Nations (1776)
- Published in 1776, a influential book on market economics
- Introduced the concept of the "invisible hand" that guides individuals to act in ways that benefit society
Key Concepts
- Argued that people acting in their self-interest can lead to benefits for society
- Believed in free trade and its advantages
Test your knowledge on the life and work of the Scottish philosopher Adam Smith, and his groundbreaking book 'The Wealth of Nations'. Learn more about his background, education, and contributions to economics.
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