, Adam Smith Made All of the Following Arguments for Laissez-Faire

question 56

Multiple Choice

, Adam Smith made all of the following arguments for laissez-faire capitalism, EXCEPT

• A) the desire for profit is the invisible hand that guides a capitalist system.
• B) the government should not be allowed any role whatsoever in the economy.
• C) private firms should be left alone to make their production and distribution decisions.
• D) firms will try to use as few resources as possible in order to keep their prices low.
• E) certain areas of the economy were better run by government agencies.

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Definitions:

Intragroup Services

Services provided between companies within the same group, often related to management, support, or technical services.

NCI Adjustment

Adjustments made to reflect the share of equity interest in a subsidiary not attributable directly or indirectly to the parent company.

Ownership Interest

A shareholder's stake in a company, represented by the number of shares owned.

Service Fees

Charges levied for the provision of services by one party to another, covering the cost of labor, expertise, or other service-related resources.