Unit.7.economic.theories.of.IR

❓ How are you feeling about the snow and cold in general as of today?

Which of the following is a key idea of Adam Smith's philosophy during the Industrial Revolution?

Which economic system is characterized by individuals owning businesses and selling products for profit, as shown in the cartoon?

Which of the following are key ideas associated with Adam Smith's economic philosophy?

According to the 'Invisible Hand' theory, what happens when manufacturers, innovators, and employees all act in their own self-interest?

Which of the following best describes Laissez-Faire economics?

Which of the following are features of a free market economy?

According to critics of laissez-faire capitalism during the Industrial Revolution, who benefited the most under capitalism?

Which of the following are key beliefs of Karl Marx and Friedrich Engels regarding the progression of society?

What is the main difference between utopian socialism and scientific socialism as described in the images?

Select all the impacts of Marxism mentioned in the lesson.

Which countries carried out revolutions inspired by Marx's ideas?

Which economic systems are explained in the referenced video?