Both Adam Smith and David Ricardo

question 77

Multiple Choice

Both Adam Smith and David Ricardo

• A) were advocates of free trade and opponents of protectionism.
• B) were advocates of protectionism and opponents of free trade.
• C) developed trade theories based on the demand side of an economy.
• D) maintained that precious metals represented the wealth of a nation.

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Definitions:

Émile Durkheim

A French sociologist, one of the founding figures of sociology, known for his studies on social cohesion and the functionalism perspective.

Social Groups

Collections of individuals who interact and share similar characteristics and a sense of unity.

Bureaucratic Rationalization

The process of creating an efficient organization through the rational design and organization of human activity, often associated with increased specialization and standardization of tasks.

George Ritzer

An American sociologist known for his work on consumerism, globalization, and the "McDonaldization" of society.