#1
Which economic system relies on private ownership of property and the means of production?
#2
Who is often considered the father of modern economics?
#3
In which economic system does the government own and control most of the resources and businesses?
#4
Who wrote the book 'The Wealth of Nations,' which laid the foundation for classical economics?
#5
Which economic system emphasizes the role of centralized planning and state ownership of the means of production?
#6
Which economic philosophy advocates for minimal government intervention in the economy?
#7
What economic concept is based on the idea that individuals act in their own self-interest and that this behavior leads to overall societal benefit?
#8
Which economic system advocates for the collective ownership of resources and the means of production?
#9
What term refers to the total value of all goods and services produced within a country's borders in a specific time period?
#10
Which economic philosophy focuses on the importance of demand-side policies, such as government spending and taxation, to manage the economy?
#11
Who coined the term 'invisible hand' to describe the self-regulating nature of a free market economy?
#12
Which economist is known for his advocacy of supply-side economics and his role as an advisor to President Ronald Reagan?
#13
Who developed the theory of comparative advantage, which explains why countries engage in trade even if one country is more efficient in producing all goods?
#14
Who is associated with the theory of the 'quantity theory of money,' which states that changes in the money supply directly affect prices?
#15