According to Adam Smith, Individual Self-Interest

question 196

Multiple Choice

According to Adam Smith, individual self-interest

• A) is a powerful force for economic progress when it is directed by competitive markets.
• B) is a powerful force for economic progress when individuals are wisely directed by a strong central government.
• C) is a major factor in retarding the economic progress of humankind.
• D) could be either a positive or negative force for economic progress, depending on the moral influences of political leaders.

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Definitions:

Prohibitively Expensive

Costs that are so high they discourage or prevent an individual or entity from purchasing a service or product or undertaking an action.

Impossibility of Performance

A legal doctrine that releases parties from their contractual obligations when an event occurs that makes performance objectively impossible.

Absconded

To leave hurriedly and secretly, typically to escape from custody or avoid arrest.

Digestive Problem

Health issues related to the digestive system that impair its ability to function properly.