Adam Smith's Economic Theory Is Based on Which of the Following

question 1

Multiple Choice

Adam Smith's economic theory is based on which of the following assumptions?

• A)People want to promote each others' interests.
• B)Morality is not relevant to economic concerns.
• C)Free markets will fix their own ethical problems.
• D)People will behave rationally as they pursue their interests.

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Definitions:

Customer's Perspective

The viewpoint or attitude of consumers regarding the purchase, usage, benefits, and overall satisfaction with a product or service.

Competitive Advantage

The unique attributes or capabilities a company has that enable it to outperform its competitors, leading to greater sales or margins.

Defined

Clearly characterized or determined; having a precise meaning.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as superior quality, cost advantages, or innovative features.