Author Question: According to Scottish economist Adam Smith, a. the pursuit of self-interest has widespread ... (Read 33 times)

jhjkgdfhk · **on:** Jul 2, 2018

According to Scottish economist Adam Smith,

a. the pursuit of self-interest has widespread benefits from producing the greatest good for the greatest number of people.
b. the selfish effort that characterizes capitalism results in higher prices and increased inequality.
c. capitalism is most productive when it is managed by government.
d. equality in power and wealth result from an economy operating according to supply and demand.

Question 2

Which type of economic system places natural resources and the means of producing goods and services under collective ownership?

a. capitalism
b. a mixed economy
c. feudalism
d. socialism