Adam Smith Believed That an Economic System Couldn't Truly Prosper

question 117

True/False

Adam Smith believed that an economic system couldn't truly prosper unless people were taught to value the welfare of others above their own personal gain.

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Definitions:

Fraudulent Misrepresentation

A false statement of fact made by a person who knows, or should know, that it is false, and made with the intention of deceiving another.

Authority

The legal power or right given to an individual or body to make decisions, enforce rules, or govern.

Identity

The distinguishing character or personality of an individual; aspects that make up who someone is.

Warranty of Authority

A guarantee made by an agent that they have the authority from their principal to perform a certain act.