Question

According to Adam Smith, the government should be responsible for

a.encouraging producers to act in their own self-interest.
b.imposing tariffs and quotas on any imported products.
c.helping business owners develop a sense of self-respect.
d.setting the amount that could be charged for a product.

Answer 1

Answer: A. encouraging producers to act in their own self-interest.

Answer 2

Adam smith believe that the government should be responsible for: A. encouraging producers to act in their own self-interest.

Adam smith is a major supporter of the free-market system. According to Adam Smith, the government should make as little interference as possible to the free market. He believed that by encouraging producers to act in their own interest, the country would be able to increase its employment and generate wealth to the country in the long run.