Which of the Following Scenarios Would Best Exemplify Adam Smith's

question 75

Multiple Choice

Which of the following scenarios would best exemplify Adam Smith's view of best serving the interests of society?

• A) Individuals are selected to fill certain positions within the economy of their nation according to the needs of the nation as a whole.
• B) Markets are carefully regulated to ensure that all individuals within a nation are treated fairly and charged standardised prices.
• C) A country only has a limited amount of space for college students and uses a type of lottery system to determine who gets these spaces.
• D) Government scarcely exists in this country, and transactions are based on a system of barter, or trading goods, for other goods.
• E) Individuals in the country may pursue their own economic gain and self-interest by doing whatever is best for them.

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Definitions:

Vocalist

A person who sings or uses their voice as a musical instrument in performances.

Referent

The entity or item that is represented or signified by a word or expression.

Continent

A large continuous mass of land distinguished by geographers as one of the major landmasses on Earth's surface.

Country

A recognized political entity with its own government, territory, and population.