Questions
Single choice
Adam Smith argues in the Wealth of Nations that an economy will produce more goods and services if
Options
A.a. people ignore their own interests and contribute to national wealth as a whole.
B.b. people act in their own self-interest, than if the government directs economic activity.
C.c. the government controls the use of the nation's scarce resources.
D.d. people act in the public interest than if they act in their own self-interest.
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Step-by-Step Analysis
When evaluating Adam Smith's claim in the Wealth of Nations about how an economy will produce more goods and services, several options must be weighed for accuracy and coherence with his theory.
Option a says: 'a. people ignore their own interests and contribute to national wealth as a whole.' This reverses Smith's idea. He argues that individuals pursuing their own self-interest can inadvertently promote ......Login to view full explanationLog in for full answers
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