Who Wrote the Wealth of Nations

question 43

Multiple Choice

Who wrote The Wealth of Nations ?

• A)Adam Smith
• B)Thomas Malthus
• C)Jeremy Bentham
• D)Friedrich List
• E)Friedrich Engels

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Definitions:

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different groups of consumers.

Dumping

The practice of exporting goods at a price lower than the home market price, often considered unfair trade.

Protectionist Strategy

Economic policies governments use to restrict imports to protect domestic industries.

Inelastic

Describes a situation where the demand for a product or service is relatively unresponsive to changes in price, meaning that variations in price have little to no effect on the quantity demanded.