Question

According to Adam Smith, trade based on self interest: Group of answer choices will never benefit...

According to Adam Smith, trade based on self interest:

Group of answer choices

will never benefit either party

will benefit both parties

is socially destructive

will not occur under laissez faire

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

As we all know that Adam Smith is considered to father of economics

He gives the ideas like wealth of nations, trade theories, theory of economic development etc

Laissez faire means the state of the country should not be under any restrictions, any type of business or individual because it hinders the pillars of extent of market division,labour etc

According to his trade based on self interest if there is freedom in the production and exchange of good in an economy like free trade then self-interest will benefit both the parties as compared to when there is high government regulations and watchdog

So the correct answer here is option B

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1) According to Adam Smith, an economy of people making decisions based on self interest would...
1) According to Adam Smith, an economy of people making decisions based on self interest would Select one: a. lead to economic warfare as consumers, workers and employers would never come to any agreement. b. create a chaotic and conflicted economy. c. lead to socialism, thus Smith argued for governmental controlled prices and wages. d. lead to a "harmony of interests". 2) An economic model is defined as: Select one: a. data adjusted for irrational actions. b. a simplified representation...
1. You are a senior consultant for McKinsey & Company and you are based out of...
1. You are a senior consultant for McKinsey & Company and you are based out of the Chicago office. You have several clients in Los Angeles that demand regular on-site visits. You have a significant amount of family in the LA area, so you often host diners for your family while working on-site and charge the diners to your corporate account as an entertainment expense. What type of conflict of interest is most illustrated within this scenario? Group of answer...
PLEASE READ THE ARTICLES ATTACHED AND ANSWER THE FOLLOWING QUESTION. THE ARTICLES ARE BOTH LISTED PLEASE...
PLEASE READ THE ARTICLES ATTACHED AND ANSWER THE FOLLOWING QUESTION. THE ARTICLES ARE BOTH LISTED PLEASE PROVIDE DETAILED EXPLANATIONS. PLEASE WRITE ONE REFLECTION COMBINING BOTH ARTICLES. The purpose of the Article Reflection is to deepen your engagement with the topic of Epidemiology. It will give you the opportunity to reflect on the current real-life epidemiological issues at hand and help to bring meaning to them. ARTICLE 1: A group of students knew they had covid-19. They hosted a party over...
1.) True or False? For all societies, resources are scarce, and technology is limited, while people’s...
1.) True or False? For all societies, resources are scarce, and technology is limited, while people’s wants and needs for goods and services seem to be unlimited. (2 points) 2.) (1 point) Adam Smith’s “invisible hand” refers to a.) the subtle and often hidden methods that businesses use to profit at consumers’ expense. b.) the ability of free markets to reach desirable outcomes, despite the self-interest of market participants. c.) the ability of government regulations to benefit consumers, even if...
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit...
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit organizations is the focus of increasing attention within the public administration community. Practitioners recognize that the organization of public services relies to a substantial degree upon what we have come to call third-party government (Salamon, 1981). Nongovernmental actors not only deliver government-funded services but also actively participate throughout the policy process. Often the third-party is a nonprofit organization. In the last decade or so,...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
After reading the following article, how would you summarize it? What conclusions can be made about...
After reading the following article, how would you summarize it? What conclusions can be made about Amazon? Case 12: Amazon.com Inc.: Retailing Giant to High-Tech Player? (Internet Companies) Overview Founded by Jeff Bezos, online giant Amazon.com, Inc. (Amazon), was incorporated in the state of Washington in July 1994, and sold its first book in July 1995. In May 1997, Amazon (AMZN) completed its initial public offering and its common stock was listed on the NASDAQ Global Select Market. Amazon quickly...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT