The 18th-Century Economist, Adam Smith, Believed in Free Markets Because

question 9

Multiple Choice

The 18th-century economist, Adam Smith, believed in free markets because he believed in ______.

• A)people as rational actors
• B)the sovereign state
• C)regulation of the market price
• D)regulation of the natural price

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Definitions:

Urban Population

Refers to the number of people living in cities or towns within a given area, highlighting the concentration of individuals in densely populated, built-up areas.

Global Urban Revolution

The rapid urbanization and the significant increase in the number of people living in urban areas globally, particularly since the 20th century.

Population Shifting

The movement or redistribution of people from one area or location to another, often influenced by economic, social, or environmental factors.

Urban Areas

Regions characterized by high human population density and vast human-built features in comparison to areas surrounding them, typically cities and towns.