Title: QUIZ: The Role of Self-Interest and Competition in a Market Economy -- Economic Lowdown Audio Series
Course: Andria Testing FRE2 > Section: The Role of Self-Interest and Competition in a Market Economy -- Economic Lowdown Audio Series

Q: What market force is the “motivator” of economic activity?
- Self-interest
- Competition
- Government
- Authority figures
A: Self-interest

Q: What market force is the “regulator” of economic activity?
- Self-interest
- Competition
- Government
- Authority figures
A: Competition

Q: According to the audio, what causes people to work or go to school?
- They are forced to by the government.
- They are self-interested.
- They don’t want to be unemployed.
- They want to give to others.
A: They are self-interested.

Q: Why do some argue that a market economy requires little government regulation?
- Self-interest is held in-check by competition.
- People are naturally honest and have good intentions.
- Corruption doesn’t exist in a market economy.
- Businesses voluntarily cooperate with one another in a market economy.
A: Self-interest is held in-check by competition.

Q: Who described the opposing, but complementary, forces of self-interest and competition as the invisible hand?
- John Locke
- Adam Smith
- Thomas Jefferson
- Alexander Hamilton
A: Adam Smith

Q: True or False: Self-interest produces behavior that benefits others.
- True
- False
A: True