Which of the Following Writers Called Himself a Liberal

question 52

Multiple Choice

Which of the following writers called himself a liberal?

• A) John Locke
• B) David Hume
• C) John Stuart Mill
• D) Adam Smith

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Definitions:

Competitive Price-Taker Firm

A business that has no control over the market price and must accept the prevailing price set by market supply and demand conditions.

Price

The amount of money required to purchase a good or service, reflecting its value in economic transactions.

Quantity

Refers to the amount or number of units or items available, produced, or consumed in a given context.

Competition

The rivalry among businesses to attract customers, increase sales, and achieve market dominance.