What Do You Know About The Institute Of Economic Affairs?

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What Do You Know About The Institute Of Economic Affairs? - Quiz

The Institute of Economic Affairs (IEA) is a privately funded non-profit organization that promotes free-market economics. Institute of Economic Affairs organization was found in the 1950s by Antony Fisher in Westminster, London, United Kingdom. How much more do you know about the Institute of Economic Affairs? Find out as you take this quiz.


Questions and Answers
  • 1. 

    The major economic ideaology promoted by the institute of economic affairs is?

    • A.

      Open market

    • B.

      Free Market

    • C.

      Closed Market

    • D.

      Indigenous market

    Correct Answer
    B. Free Market
    Explanation
    The Institute of Economic Affairs promotes the economic ideology of a free market. This means that they advocate for minimal government intervention in the economy and believe that individuals and businesses should have the freedom to make their own economic decisions. In a free market, prices are determined by supply and demand, and competition drives efficiency and innovation. This ideology emphasizes the importance of individual liberty and property rights in economic systems.

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  • 2. 

    The institute of economic affairs was founded in what year?

    • A.

      1946

    • B.

      1945

    • C.

      1955

    • D.

      1972

    Correct Answer
    C. 1955
    Explanation
    The correct answer is 1955. The Institute of Economic Affairs (IEA) was founded in 1955. It is a think tank based in the United Kingdom that promotes free-market economics and classical liberal ideas. The IEA conducts research, publishes studies, and organizes events to influence public policy and debate on economic issues.

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  • 3. 

    Anthony Fisher was inspired to open this institute after reading the book a road to serfdom authored by?

    • A.

      Friedrich Hayek

    • B.

      Samson torak

    • C.

      Simon Kjaer

    • D.

      Frank Wilson

    Correct Answer
    A. Friedrich Hayek
    Explanation
    Anthony Fisher was inspired to open this institute after reading Friedrich Hayek's book "The Road to Serfdom." Hayek's book is a classic in the field of economics and political philosophy, arguing against the dangers of collectivism and advocating for individual liberty and free markets. Fisher, upon reading this influential work, was inspired to establish an institute that would promote these ideas and advance the principles of classical liberalism.

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  • 4. 

    The institute of economic affairs has its headquarters in which location?  

    • A.

      Paris, France

    • B.

      Geneva, Switzerland

    • C.

      London. England

    • D.

      Ottawa, Canada

    Correct Answer
    C. London. England
    Explanation
    The correct answer is London, England because the question asks for the location of the headquarters of the Institute of Economic Affairs, and London, England is the correct location.

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  • 5. 

    The Institute of Economic Affair's Original Trust Deed was signed by the following members, except?

    • A.

      John Harding

    • B.

      Adam smith

    • C.

      Anthony Fisher

    • D.

      Olivier Smedley

    Correct Answer
    B. Adam smith
    Explanation
    The Institute of Economic Affairs' Original Trust Deed was signed by John Harding, Anthony Fisher, and Olivier Smedley. Adam Smith is not mentioned as one of the signatories.

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  • 6. 

    The institute of Economics affairs educational blog was established in what year?  

    • A.

      2006

    • B.

      2007

    • C.

      2008

    • D.

      2009

    Correct Answer
    A. 2006
    Explanation
    The correct answer is 2006.

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  • 7. 

    The popular Journal of economic affairs is released by the Institute of economic affairs?  

    • A.

      Monthly

    • B.

      Quarterly

    • C.

      Yearly

    • D.

      Bi-monthly

    Correct Answer
    A. Monthly
    Explanation
    The popular Journal of economic affairs is released by the Institute of economic affairs on a monthly basis.

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  • 8. 

    The most important lecture conference hosted by the institute of economic affairs is the?

    • A.

      Annual economic lecture

    • B.

      Monthly economic lecture

    • C.

      Annual Hayek Lecture

    • D.

      Annual Fisher Lecture

    Correct Answer
    C. Annual Hayek Lecture
    Explanation
    The correct answer is Annual Hayek Lecture. The question asks for the most important lecture conference hosted by the institute of economic affairs, and the Annual Hayek Lecture is likely the most significant one. The Hayek Lecture is named after Friedrich Hayek, a renowned economist and Nobel laureate, and it is an annual event that brings together prominent economists and thinkers to discuss important economic ideas and theories. This lecture is highly regarded in the field of economics and is considered a highlight of the institute's calendar.

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  • 9. 

    The Institute of economic affairs agency body ,Shadow Monetary Policy Committee was established in what year?

    • A.

      1997

    • B.

      1996

    • C.

      1998

    • D.

      1999

    Correct Answer
    A. 1997
    Explanation
    The correct answer is 1997. The Shadow Monetary Policy Committee was established in 1997 by the Institute of Economic Affairs agency body.

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  • 10. 

    The first director general of the Institute of economic affairs was?  

    • A.

      Anthony fisher

    • B.

      John blundell

    • C.

      Raph Harris

    • D.

      Graham mather

    Correct Answer
    C. Raph Harris
    Explanation
    Raph Harris was the first director general of the Institute of Economic Affairs.

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