1. What significantevents were occurring in England and North America at the time that The Wealthof Nations was written?(3 points)2. What was AdamSmith’s purpose in writing The Wealth ofNations? (3 points)3. Why does Smiththink that pursuing personal interests is a more effective way to benefitsociety than trying to pursue the interest of society as a whole? (3 points)4. Why does Smiththink that the government should stay out of economic affairs? (4 points)5. Are there anyreasons why Smith’s model of capitalism might not be a successful argument infavor of the free-market system? Explain. (4 points)6. Smith points outthe possibility of producers contriving to raise prices. Are there otherproblems with the free-market system that he did not point out?
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