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Wrote The Wealth of Nations • Favored capitalism • Opposed mercantilism
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
What is laissez-faire economics?
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
Karl Marx wrote two books, Das Capital and —
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
Each of the following are tenets of communism EXCEPT —
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
Individuals who risk their wealth to produce a good or service in order to earn a profit are known as —
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
The Communist Manifesto was written by —
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
Who believed that governments should NOT interfere with a free market economy?
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
Creates an unequal distribution of wealth • Increases the standard of living for the middle class • Described in The Wealth of Nations • Traditionally used in the United States
Karl Marx
Communist Manifesto
Communism
Smith
laissez-faire economic policy
entrepreneurs
Adam Smith
No government interference in the economy
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