How do you feel about the idea that production, not consumption, drives national wealth?
- It’s a bit too simple, there are many factors that contribute to wealth.
- This makes sense to me, it’s about creating value, not just spending it.
- It’s a little depressing, it feels like there’s always a limit on how much we can consume.
- I’m not sure, I need to think about it more.
What’s your favorite example Mill uses to explain the concept of comparative advantage?
- The example of England and Germany trading cloth and linen.
- The hypothetical scenario of the Court moving from London to Birmingham.
- The example of a village receiving remittances from abroad.
- I don’t really have a favorite, I find all his examples interesting.
What makes you nervous about the potential consequences of sudden free trade?
- The possibility of losing jobs in domestic industries.
- The potential for price fluctuations and economic instability.
- The risk of being exploited by foreign countries with more advanced economies.
- Honestly, I’m not really nervous about it.
What makes you most frustrated about the arguments against the idea of general overproduction?
- It’s frustrating that people don’t understand that production can create its own demand.
- It’s frustrating that there are so many misconceptions about how economies work.
- It’s frustrating that some people don’t want to accept that markets can be efficient.
- I don’t really get frustrated about economic arguments.
What are you most excited about when it comes to understanding how trade benefits both nations?
- The potential for global economic growth and prosperity.
- The opportunity for nations to specialize and become more efficient.
- The possibility for greater cooperation and understanding between nations.
- I’m not really that excited about it, I’m more interested in other things.
What do you dream about when it comes to the definition of productive labor?
- A world where everyone can find work that is both meaningful and beneficial to society.
- A world where we value all kinds of work, not just those that create tangible goods.
- A world where we can all afford to pursue our passions and interests.
- I don’t really dream about it, it’s more of a practical issue to me.
What happened in the past when you were first introduced to the idea of comparative advantage?
- It was a bit confusing at first, but it clicked after I thought about it for a while.
- It was a lightbulb moment, I realized how trade could benefit everyone.
- It didn’t really change my thinking that much.
- I can’t really remember, it was a long time ago.
What comes to mind when you think about the role of government in international trade?
- It’s important for governments to create a level playing field for businesses.
- Governments should focus on protecting domestic industries from unfair competition.
- Governments should promote free trade and open markets.
- I don’t really have strong opinions about government intervention in trade.
What’s your favorite aspect of Mill’s analysis of the relationship between profits, interest, and wages?
- The way he explains how profits are driven by the cost of production.
- The way he clarifies the difference between profits and interest.
- The way he shows how interest rates are influenced by both the rate of profit and factors like banking practices.
- I don’t really have a favorite aspect, I find the whole analysis interesting.
When you were a kid, how did you think about the idea of money?
- I thought it was just something adults used to buy things.
- I understood that money was a way to exchange goods and services.
- I didn’t really think about it much.
- I don’t remember thinking about money when I was a kid.
You have a choice of focusing on increasing production or increasing consumption, which do you choose and why?
- Production, because it’s the key to long-term economic growth.
- Consumption, because it’s what drives demand and creates jobs.
- It depends on the circumstances.
- I’m not sure, I’m not an economist.
A specific situation arises where a nation is facing economic difficulties. How do you react?
- I would try to understand the root cause of the problem and identify potential solutions.
- I would try to stay positive and optimistic, believing that things will eventually improve.
- I would feel anxious and worried about the future.
- I would just try to get through it day by day.
What keeps you up at night about the potential for general overproduction?
- The thought that we could produce more than we can consume.
- The thought that we could run out of resources.
- The thought that we could create a lot of waste.
- I don’t really worry about overproduction.
Which of these would you enjoy the most: a detailed analysis of trade statistics, a debate on the merits of free trade, or a discussion about the role of government in the economy?
- A detailed analysis of trade statistics, I like to see the data.
- A debate on the merits of free trade, I like to hear different perspectives.
- A discussion about the role of government in the economy, I’m interested in policy.
- None of them really appeal to me.
When you think about the influence of consumption on national wealth, what are you most concerned about?
- The potential for unsustainable consumption patterns.
- The possibility of widening inequality between rich and poor.
- The negative environmental impact of excessive consumption.
- I’m not really concerned about it.
What aspect of Mill’s analysis of international trade makes you the most happy?
- The idea that trade can benefit everyone involved.
- The potential for increased global cooperation and understanding.
- The possibility of creating a more just and equitable world.
- I don’t really feel happy about economics.
What is most likely to make you feel down about the state of the global economy?
- The increasing levels of poverty and inequality.
- The growing threat of climate change.
- The constant uncertainty and instability.
- I’m not really affected by the state of the global economy.
In a perfect world, what would the relationship between profits, wages, and interest be?
- A fair and equitable distribution of wealth.
- A system that rewards hard work and innovation.
- A balance between the needs of businesses and workers.
- I don’t really have an ideal vision for the economy.
If you could wave a magic wand, what would the perfect outcome be for the international trade system?
- A system where all countries benefit from trade.
- A system where trade is fair and equitable.
- A system that promotes peace and understanding between nations.
- I don’t really believe in magic wands.
How often do you think about the implications of Mill’s analysis of the definition of political economy?
- Very often, I find it really thought-provoking.
- Sometimes, when I’m thinking about economic issues.
- Rarely, it’s not something I think about on a regular basis.
- Never, I’m not interested in that kind of theoretical stuff.
You are at a party and someone starts talking about the benefits of free trade. What do you do?
- I join the conversation and share my thoughts.
- I politely excuse myself and go talk to someone else.
- I listen quietly and try to learn something new.
- I avoid the conversation altogether.
How comfortable are you with the idea of using a deductive approach to political economy?
- Very comfortable, I like to use logic and reason.
- Somewhat comfortable, but I also value empirical evidence.
- Not very comfortable, I prefer to focus on real-world problems.
- Not at all comfortable, I think it’s too abstract.
You have 24 hours to do whatever you want related to understanding economic issues. What do you do?
- I read some books and articles about economics.
- I attend a conference or workshop on economics.
- I talk to economists and business leaders.
- I do something completely unrelated to economics.
Which of these is most likely to be a struggle for you: understanding complex economic concepts, applying economic theory to real-world problems, or convincing others of your economic views?
- Understanding complex economic concepts, I’m not always good with numbers.
- Applying economic theory to real-world problems, I find it challenging to make connections.
- Convincing others of my economic views, I’m not very persuasive.
- I don’t really struggle with any of these things.
Which member of the group of classical economists are you: Adam Smith, David Ricardo, or John Stuart Mill?
- Adam Smith, I’m interested in the big picture.
- David Ricardo, I’m focused on the details of how markets work.
- John Stuart Mill, I’m interested in both the theory and the practice of economics.
- I don’t really identify with any of them.
New information related to the global supply chain comes up. What is your first response?
- I want to learn more about it.
- I’m skeptical, I need to see the evidence.
- I’m worried about the potential consequences.
- I’m not really interested.
Someone asks you “How are you doing with understanding Mill’s analysis of international trade?” What’s the actual answer, not just “I’m good?”
- I’m starting to understand it, but I still have some questions.
- I’m getting a good grasp of it, I’m really enjoying learning about it.
- I’m still struggling with some of the concepts.
- I don’t really want to talk about it.
What’s your go-to podcast or book when you’re looking to learn more about economic issues?
- Planet Money, it’s informative and engaging.
- The Economist, it provides a global perspective.
- Freakonomics, it’s a fun and insightful look at economics.
- I don’t really listen to podcasts or read books about economics.
What place, concept, or idea do you most want to explore when it comes to economics?
- The future of work and automation.
- The impact of globalization on developing countries.
- The relationship between economics and the environment.
- I don’t really have any specific interests in economics.
What’s your favorite memory related to learning about economics?
- The moment I finally understood comparative advantage.
- The time I had a great discussion with a friend about economic issues.
- I don’t really have any favorite memories related to economics.
- I’m not a fan of economics.
What causes, topics, or interests are you most passionate about related to economics?
- Social justice and inequality.
- Sustainable development.
- Economic empowerment of women and minorities.
- I’m not really passionate about economics.
What is your absolute favorite meal to enjoy while reading about economic issues?
- A hearty soup, it’s comforting and filling.
- A light salad, it’s healthy and refreshing.
- A pizza, it’s always a good choice.
- I don’t really eat while reading.
How would your friends and family describe your approach to economics?
- They’d say I’m analytical and critical.
- They’d say I’m pragmatic and solutions-oriented.
- They’d say I’m interested in the big picture.
- They’d say I’m not really interested in economics.
Tell us a little about your view of the relationship between economics and politics.
- I think they’re inextricably linked, economics shapes politics and vice versa.
- I think they should be kept separate, economics is about science, politics is about power.
- I don’t really have a strong opinion on this.
- I’m not interested in politics.
If you could choose any economic system, which one would you choose and why?
- A democratic socialist system, because it balances individual liberty with social responsibility.
- A free market system, because it’s based on competition and innovation.
- I’m not sure, I haven’t thought about it that much.
- I don’t really care about economic systems.
What’s the first thing that comes to mind when you hear the phrase “free trade”?
- Opportunity, it’s a chance for everyone to benefit.
- Competition, it’s going to be tough.
- Exploitation, it’s a way for rich countries to take advantage of poor countries.
- I don’t really have a strong reaction.
What affects you in some way, physically, mentally, or emotionally, the most when it comes to economic issues?
- The feeling of uncertainty and instability.
- The fear of losing my job or my home.
- The frustration of seeing so much inequality in the world.
- I’m not really affected by economic issues.
What’s your idea of the perfect economic policy?
- A policy that promotes both growth and equality.
- A policy that’s based on sound economic principles.
- A policy that’s flexible and responsive to change.
- I don’t really have a perfect economic policy in mind.
What is your strongest economic argument?
- The need for a more equitable distribution of wealth.
- The importance of investing in education and infrastructure.
- The urgency of tackling climate change.
- I don’t really have strong economic arguments.
How prepared are you for a potential economic downturn?
- I have a plan in place and I’m confident I can handle it.
- I’m somewhat prepared, but I have some things to work on.
- I’m not really prepared, I’m hoping it won’t happen.
- I’m not really concerned about it.
What happens if the government imposes new restrictions on international trade?
- I expect to see higher prices for imported goods.
- I expect to see a decrease in exports.
- I expect to see a decline in economic growth.
- I’m not really sure what will happen.
What do you think you need to reach your economic goals?
- A good education and a strong work ethic.
- A bit of luck and the right opportunities.
- A change in government policy.
- I’m not really sure what I need.
How often do you try to improve your understanding of economic issues?
- Regularly, I’m always trying to learn more.
- Occasionally, when I have time.
- Rarely, I’m not really interested in learning more.
- Never, I’m confident in my knowledge.
How confident are you in your understanding of the principles of comparative advantage?
- Very confident, I understand it well.
- Somewhat confident, I have a good grasp of the basics.
- Not very confident, I need to learn more.
- Not at all confident, it’s a confusing concept to me.
How do you handle the potential for economic instability?
- I try to stay informed and make smart decisions.
- I try to stay positive and optimistic.
- I try to avoid thinking about it.
- I don’t really have a strategy for dealing with it.
Do you have experience with the complexities of international trade?
- Yes, I work in a field that involves international trade.
- Yes, I’ve studied international trade in depth.
- No, but I’m interested in learning more about it.
- No, and I’m not really interested in it.
How well do you stick to your convictions when it comes to economic issues?
- Very well, I’m not easily swayed by others’ opinions.
- Somewhat well, I’m open to new information and perspectives.
- Not very well, I’m easily influenced by others.
- Not at all well, I’m not really sure what I believe.
Which of the following is most accurate when it comes to your view of the role of government in the economy?
- The government should play a limited role.
- The government should play a significant role.
- The government should intervene only when necessary.
- I don’t have a strong opinion on this.
To what degree do you experience economic anxiety?
- I experience a lot of economic anxiety.
- I experience some economic anxiety.
- I don’t experience much economic anxiety.
- I don’t experience any economic anxiety.
Which of these best describes your company’s current state of economic performance?
- We’re thriving.
- We’re doing well.
- We’re struggling.
- We’re in decline.
What is your current biggest challenge related to the economy?
- Keeping up with the pace of change.
- Finding qualified employees.
- Managing costs.
- Competing with other businesses.
What’s the first thing that comes to mind when you face an unexpected economic challenge?
- I need to find a solution quickly.
- I need to assess the situation carefully.
- I need to stay calm and focused.
- I’m not really sure what to do.
How do you handle a situation where your business is facing economic difficulties?
- I cut costs and streamline operations.
- I look for new opportunities and markets.
- I try to stay positive and optimistic.
- I’m not really sure what to do.
How would you describe your relationship to the economy?
- I’m deeply connected to it, it affects my life in many ways.
- I’m somewhat connected to it, I’m aware of its impact.
- I’m not very connected to it, it doesn’t really affect me.
- I’m not connected to it at all, I don’t really think about it.
Are you stuck in a way of thinking about the economy that’s no longer relevant?
- Yes, I need to update my understanding of the economy.
- No, I’m keeping up with the latest trends.
- I’m not sure, I need to reflect on my thinking.
- I don’t really think about it.
What would you say are your top struggles right now related to the economy?
- The rising cost of living.
- The lack of affordable housing.
- The increasing inequality between rich and poor.
- I don’t really have any struggles related to the economy.
What is your economic goal?
- To achieve financial security.
- To make a difference in the world.
- To create a sustainable business.
- I don’t really have an economic goal.
What do you think is missing in your quest to achieve your economic goals?
- A little bit of luck.
- A better understanding of economics.
- More support from the government.
- I’m not sure what’s missing.
What is your current level of expertise in international trade?
- I’m an expert on international trade.
- I have a good understanding of international trade.
- I have a basic understanding of international trade.
- I don’t know much about international trade.
A scenario arises where your company is involved in a dispute with a foreign partner. How do you respond?
- I try to resolve the dispute amicably through negotiation.
- I take legal action to protect my company’s interests.
- I try to avoid the dispute and move on.
- I’m not really sure what to do.
What physical, emotional, or tactical sensation do you experience most when it comes to economic issues?
- A feeling of uncertainty and anxiety.
- A sense of frustration and anger.
- A desire to take action and make a difference.
- I don’t really experience any strong sensations.
Which of the following do you notice yourself worrying about on a day-to-day basis?
- The potential for an economic recession.
- The rising cost of goods and services.
- The impact of automation on jobs.
- I don’t really worry about economic issues.
How confident and optimistic do you feel in your business’s ability to navigate the economic landscape?
- I’m very confident and optimistic.
- I’m somewhat confident and optimistic.
- I’m not very confident or optimistic.
- I’m not at all confident or optimistic.
How well do you accomplish or execute on tasks related to the economy?
- I consistently excel at economic tasks.
- I usually do a good job with economic tasks.
- I sometimes struggle with economic tasks.
- I often struggle with economic tasks.
How connected do you feel to the global economy?
- I feel deeply connected to the global economy.
- I feel somewhat connected to the global economy.
- I don’t feel very connected to the global economy.
- I don’t feel connected to the global economy at all.
I believe that a strong economy is essential for a strong society.
- I agree.
- I disagree.
- I’m not sure.
I’m afraid of a future where economic inequality continues to grow.
- I share that fear.
- I don’t share that fear.
- I’m not sure.
Which of the following is most likely to frustrate you?
- Seeing businesses exploit their workers.
- Dealing with bureaucratic red tape.
- Having to make difficult economic decisions.
- Nothing really frustrates me.
What is the trickiest part about managing a business in a volatile economic climate?
- Making long-term plans.
- Adapting to changing conditions.
- Managing cash flow.
- Nothing is really tricky.
Do you have a problem with excessive debt or are you more concerned with maintaining a consistent cash flow?
- I have a problem with excessive debt.
- I’m more concerned with maintaining a consistent cash flow.
- Both are concerns for me.
- Neither are concerns for me.
Do you have a strong support system in place, such as a mentor or financial advisor, to help navigate economic challenges?
- Yes, I have a strong support system in place.
- No, I don’t have a strong support system in place.
- I’m not sure.
How do you determine your company’s economic objectives each quarter?
- I base it on market trends and customer demand.
- I set ambitious goals and work towards achieving them.
- I adjust my objectives based on unforeseen circumstances.
- I don’t have a specific process for determining economic objectives.
Are your employees consistently achieving their assigned economic tasks?
- Yes, they are consistently achieving their tasks.
- No, they are not consistently achieving their tasks.
- I’m not sure.
How do you manage the financial aspects of your role?
- I closely track my budget and expenses.
- I consult with financial experts regularly.
- I make decisions based on my gut instinct.
- I don’t really manage the financial aspects of my role.