According to Adam Smith, What Was a Legitimate Function of Government

question 56

Multiple Choice

According to Adam Smith, what was a legitimate function of government?

• A)To promote religion
• B)To protect society from invasion
• C)To plan the national economy
• D)To set wages and prices
• E)To provide all citizens with employment

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Definitions:

Consumers

Individuals or groups that purchase goods and services for personal use.

Service Company

A business entity that provides professional services or expertise instead of physical goods.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue.

Merchandise

Goods that are bought and sold in business transactions, often referred to in the context of retail or wholesale trading.