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Which type of economic system did Adam Smith believe could provide for society's needs? A. mixed B. market C. command D. traditional

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User MatFiz
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2 Answers

1 vote
The answer is B. market
answered
User Mferly
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4 votes

Answer: B. Market

Explanation: Adam Smith is the father of modern capitalism and liberal economics, and is remembered as one of the most respected economists. Also known as a philosopher, whose work "The Wealth of Nations" is the root of a modern market economy. He advocated specialization, division of jobs as an effective method of increasing productivity and encouraging market laws exempt from any government influence.

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User Nexo
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