10 Questions
Which book is considered a landmark work in economics and was published during the Great Depression?
The Great Theory of Employment, Interest and Money
What is the meaning of the Greek word 'oikanomia'?
Household Management
Who published the book 'The Wealth of the Nation'?
Adam Smith
What year did Adam Smith publish 'The Wealth of the Nation'?
1776
Which book is considered a landmark work in economics and was published in the same year as the American Declaration of Independence?
The Wealth of Nations
According to Fajardo, what is economics?
Maximum Satisfaction
What is the Greek word 'oikanomia' commonly translated as?
Household management
Who published the book 'The Great Theory of Employment, Interest and Money'?
John Meynard Keynes
What was Adam Smith's contribution to economics?
Analyzing the way that markets organize economic life
When was 'The Wealth of the Nation' published?
1776
Study Notes
Economics Landmarks
- "The Wealth of Nations" is considered a landmark work in economics and was published during the Great Depression.
Origins of Economics
- The Greek word "oikonomia" is the origin of the term "economics" and means "household management".
- It is commonly translated as "household management".
Notable Economists and Their Works
- Adam Smith published "The Wealth of Nations" in 1776, the same year as the American Declaration of Independence.
- "The Wealth of Nations" is considered a landmark work in economics.
- According to Fajardo, economics is the science that studies how to optimize the use of scarce resources to satisfy unlimited human wants.
- John Maynard Keynes published "The General Theory of Employment, Interest and Money".
Contributions to Economics
- Adam Smith's contribution to economics was the concept of the "invisible hand" and the idea of free markets.
Test your knowledge of the key concepts and theories in microeconomics with this informative quiz. From Adam Smith's groundbreaking book to the impact of John Maynard Keynes, this quiz will cover the fundamentals of microeconomics and its role in shaping economic growth.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
