Comparing the Theories of Adam Smith & Karl Marx


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What is equilibrium?

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1. Which of the following best describes the concept of the invisible hand?

2. Which of the following is the correct definition of proletariat?

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About This Quiz & Worksheet

With this quiz/worksheet, you can determine how much you know about the economic theories of Adam Smith and Karl Marx. You'll be assessed on subjects like equilibrium and a description of the invisible hand in economics.

Quiz & Worksheet Goals

These areas of economics will be addressed:

  • Proletariat definition
  • One of Marx's beliefs about capitalism
  • Explanation of the trickle-down effect

Skills Practiced

  • Defining key concepts - make sure you can accurately define the trickle-down effect and equilibrium
  • Making connections - use your understanding of the proletariat and how it's connected to an economic theory
  • Information recall - access the knowledge you've gained regarding the invisible hand in economics

Additional Learning

For more on the system of capitalism, you can review the lesson called Comparing the Theories of Adam Smith & Karl Marx. Here are some of the major points you'll be covering:

  • Definition of capitalism
  • Lives of Marx and Smith
  • Maximizing economic benefits to consumers and producers