It Would Be Most Accurate to Describe Adam Smith's Economic

question 35

Multiple Choice

It would be most accurate to describe Adam Smith's economic writing as promoting

• A) mercantilism.
• B) absolutely no government interference with business.
• C) more education for the consumer.
• D) as little government intervention in business as possible.
• E) an increase in the variety of goods and services available to the public.

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Definitions:

Controlling

Controlling refers to management activities that ensure the organization's goals are consistently being met in an effective and efficient manner.

Gross Profit

Net sales less cost of goods sold.

Future Revenue

Income that a company expects to receive from its normal business activities in future periods.

Gross Profit

The difference between sales revenue and the cost of goods sold (COGS), indicating the basic profitability of a company's core business operations.