Question

According to the excerpt, which of the following did Adam Smith fear would be missing if businesses were allowed to set their own standards?

Answer 1

Ethics

Step-by-step explanation:

According to the excerpt, the economist Adam Smith feared that there would be lack of ethics if businesses were not regulated and were allowed to set their own standards.

According to him, profit is the primary goal of business and in order to maximize profit, business owners would be tempted to "cut corners" and indulge in unethical practices.