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Author Question: A basic premise of Adam Smith's is a. human beings try to avoid acquisitive behavior. b. when ... (Read 123 times)

charchew

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A basic premise of Adam Smith's is
 
  a. human beings try to avoid acquisitive behavior.
 

b. when people are left to pursue their own economic interests, disaster looms.
  c. the division of labor, though good for the firm, reduces overall efficiency.
  d. we can secure what we need from others only by offering them something they need from us.



Question 2

The concept of the invisible hand means
 
 

a. each person's private pursuit of wealth will result in the most beneficial overall organization and distribution of
  economic resources.
  b. although it can't be seen, the hand of government controls the economy and exerts a beneficial pressure that
  promotes economic welfare.
  c. feudalism inevitably gives rise to capitalism.
  d. externalities must be internalized




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Chou

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Answer to Question 1

d

Answer to Question 2

a




charchew

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Reply 2 on: Jun 19, 2018
Thanks for the timely response, appreciate it


scikid

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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