Adam Smith Believed That Government

question 3

Multiple Choice

Adam Smith believed that government

• A)should not interfere in people's economic decisions.
• B)set prices across the board to maintain stability.
• C)should encourage people to share and help each other.
• D)has a responsibility to the people to manage the economy.
• E)is not necessary and should be eliminated entirely.

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Definitions:

Job Enlargement

The process of increasing the variety and number of tasks that an employee performs to enhance job satisfaction and productivity.

Cafeteria Compensation

A type of employee benefit plan where employees can choose from a variety of pre-tax benefit options, similar to a cafeteria.

Personal Ownership

The sense of responsibility and commitment an individual feels toward a task, project, or role, fostering accountability and dedication.

Employee Participation

The involvement of employees in the decision-making process of an organization, which can enhance motivation and commitment.