What is a core premise of 18th-century economist Adam Smith’s philosop
QUESTION
What is a core premise of 18th-century economist Adam Smith’s philosophy on free-market economies?
A) dividing fixed resources
B) central planning of production
C) eliminating business risk
D) expanding resources
E) redistribution of wealth
ANSWER
Answer: D
Explanation: D) Smith’s theory of the “invisible hand” would drive people to produce goods and services in order to achieve prosperity.
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