According to Adam Smith,the Success of Decentralized Market Economies Is

question 25

Multiple Choice

According to Adam Smith,the success of decentralized market economies is primarily due to

• A)the basic benevolence of society.
• B)society's legal system.
• C)individuals' pursuit of self-interest.
• D)partnerships that are forged between business and government.

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Definitions:

Stock Market Crash

Also known as Black Tuesday, a stock market panic in 1929 that resulted in the loss of more than $10 billion in market value (worth approximately ten times more today). One among many causes of the Great Depression.

Great Depression

A severe worldwide economic downturn that lasted from 1929 to the late 1930s, marked by mass unemployment, deflation, and widespread poverty.

Liberation and Freedom

Conditions or states of being freed from restraint or oppression, often related to political, social, or economic contexts.

Flapper

A term used in the 1920s to describe a new generation of young Western women who flaunted their disdain for what was then considered acceptable behavior, embracing new fashions and attitudes.