Adam Smith Noted That People Are Adept at Pursuing Their

question 47

Multiple Choice

Adam Smith noted that people are adept at pursuing their own self-interests, and that ____ harnesses this self-interest remarkably well.

• A)a totalitarian regime
• B)a market system
• C)a democratic government
• D)a closed system

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Definitions:

Illustrative Example

An example used to illustrate or explain a concept, idea, or principle more clearly.

Process

A series of actions or steps taken to achieve a particular outcome or to transform inputs into outputs.

Racial Group

A category of people identified by shared physical or social qualities into groups considered by society to be socially significant, often based on characteristics like skin color or ancestry.

Ethnic Group

A collection of people who identify with each other and share a common culture.