iscuss the economic system of Mercantilism and how nations would gain their wealth. [2 Points]
How does Adam Smith see how a nation builds its wealth? [2 Points]
Why does Adam Smith view trade barriers as a hindrance to building true wealth? [2 Points]
What does Adam Smith mean by “National Liberty? [2 Points]
According to Adam Smith, what role should the government play in the economy? [2 Points]
What is the Invisible Hand and what is its importance to the benefits of capitalism? [3 Points]
What is meant by laissez faire? [2 Points]
What does Say mean that the economy is a qualitative, not quantitative science? [2 Points]
According to Say, what ultimately determines the value of a good or service? [2 Points]
What is Say’s “Law of Markets? [2 Points]
How does the Law of Markets help push the economy of a nation? [2 Points]
According to Say, what is important to economic growth? [2 Points]
What does Bastiat mean by legal plunder and false philosophy? [3 Points]
Discuss Malthus’s view on population and resources and whether he was right in his views. [3 Points]
Discuss Malthus Law of Diminishing Returns. [2 Points]
What are Simon’s views on Malthus’s population and resources laws? [3 Points]
What does Ricardo mean when he says he is in favor of hard money? [2 Points]
What is Ricardo’s Law of Comparative Advantage? [2 Points]
Explain Bentham’s Utilitarianism. [2 Points]
Under Mill’s view of Utilitarianism, what is the role of the government? Provide an example by discussing how a new law would be or would not be implemented? [3 Points]
How is Mill’s view of Utilitarianism differ from Bentham’s? [2 Points]
What is Mill’s concern regarding a pure Utilitarian government? [2 Points]
What is Mill’s view of Liberty? [2 Points]
What is Mill’s view on representative government? [2 Points]
According to Marginalist economists like Menger, discuss their view on the power of the consumer. [2 Points]
Discuss the Marginal Principle of Value. [3 Points]
Discuss Menger’s Structure of Production. [2 Points]
Discuss the theory of Imputation [2 Points]
What is meant by the prices and costs are determined at the margin? [2 Points]
Discuss the theory of Subjective Value. [2 Points]
What is the principle of Marginal Utility? [3 Points]
In Plato’s view of the Ideal State, discuss how citizens must conform so the state can reach its ideal form. [2 Points]
Explain Plato’s view of justice. [2 Points]
In Plato’s Republic, he discusses the 3 classes of citizens. Discuss EACH class in detail. [3 Points]
According to Aristotle, what is the role of politics in the economy? [2 Points]
Discuss Aristotle’s view of community. [2 Points]
Compare and Contrast Plato and Aristotle on who should rule the polis. [3 Points]
Discuss which form of government Aristotle thought would be the best. [2 Points]
Discuss what Cicero calls stoicism. [2 Points]
Discuss Cicero’s views on equality and the conflicts he has with his views? [3 Points]
Discuss why Cicero feels a commonwealth is the best form of government. [2 Points]
What is Cicero’s view on pure regimes and discuss his alternatives to them. [3 Points]
According to Augustine, what is the purpose of government? [2 Points]
In Augustine’s view, what is the role of the subject to the ruler and how is the ruler judged? [3 Points]
at is Augustine’s view of human law? [2 Points] ,