According to Adam Smith

question 156

Multiple Choice

According to Adam Smith:

• A) trade is a way for rich people to exploit poor people.
• B) trade within a nation benefits people but international trade does not.
• C) trade does not benefit anyone, either at home or abroad.
• D) people buy goods for which they have higher opportunity costs than others.

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Definitions:

Par For The Course

A phrase indicating that a certain situation or behavior is what one might expect to happen in the given context; typical or normal.

Mere Exposure Effect

A mental effect in which individuals grow fond of entities simply due to their acquaintance with them.

Nonconscious Level

Refers to mental processes that occur outside of conscious awareness, influencing perceptions, thoughts, and actions without an individual's conscious recognition.

Social Cognition

The examination of methods by which individuals process, retain, and utilize knowledge regarding other individuals and social environments.