Wealth of Nations
Definition
"The Wealth of Nations" is a book written by Adam Smith in 1776. In this influential work, Smith discussed various economic concepts such as division of labor, productivity, and free trade.
Related terms
Division of labor: The concept involves breaking down tasks into smaller specialized parts to increase efficiency and productivity.
Free trade: Free trade refers to international commerce without restrictions or tariffs imposed by governments. It promotes competition and benefits all participating nations.
Capitalism: Capitalism is an economic system based on private ownership, where individuals are motivated by profit-seeking activities rather than state control. It is the foundation of Smith's ideas in "The Wealth of Nations."
"Wealth of Nations" appears in:
Subjects (1)
AP World History: Modern
Practice Questions (10)
Who wrote "Wealth of Nations," influencing economic thought during the age of Enlightenment?
Who wrote 'Wealth of Nations', promoting economic liberalism during the Enlightenment?
How did Adam Smith's "Wealth of Nations" shape economic theory in Europe during Enlightenment?
What long-term implication did Adam Smith's "Wealth of Nations" have on 18th-century European society?
Who wrote the influential book "Wealth of Nations" during the Scottish Enlightenment?
How does Adam Smith's 'Wealth Of Nations' reflect its audience's shift towards laissez-faire economic principles?
How did Adam Smith's "Wealth of Nations" affect economic policy making during the Industrial Revolution?
Whose writings included "Wealth of Nations," an economic discourse relevant to this period?
Who wrote 'Wealth of Nations' during the Age of Enlightenment?
Who wrote "Wealth of Nations" advocating free-market economics during the eighteenth century?
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
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Glossary
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Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.