1. Economics can best be described as the study of how: A. People make money. B. People attempt to satisfy their unlimited wants with limited resources. C. Supply and demand work for a firm. D. The government controls the money supply. 2. The person who called economics "the dismal science" was A. Adam Smith. B. Thomas Carlyle. C. Karl Marx. D. Milton Friedman. 3. The author of The Wealth of Nations was A. Adam Smith. B. Karl Marx. C. John Maynard Keynes. D. Alfred Marshall. 4. Adam Smith believed that the basic motivation of human beings was A. concern for one's fellow humans. B. desire for the social good. C. self-interest. D. a desire for meditative contemplation. 5. Which idea best represents Adam Smith's "Invisible Hand?" A. The actions of a benevolent government make the best choices for society. B. Central planners make the best choices for society. C. The actions of buyers and sellers in a market make the best choices for people. D. None of the above. 6. Alfred Marshall believed that the basic economic motivation of people was A. unselfishness. B. the desire for the welfare of the community. C. work itself. D. monetary gain