Adam Smith Recognized That the Purpose of Studying Political Economy

question 12

True/False

Adam Smith recognized that the purpose of studying political economy is to provide everyone with plentiful revenue.

---

Definitions:

Discriminatory Employers

Employers who unfairly treat employees or potential employees differently based on personal characteristics unrelated to job performance.

Costs

Costs refer to the expenditure incurred by businesses to produce goods or services, including materials, labor, and overhead expenses.

Quintile Distribution

A statistical measure dividing a population into five equal groups according to a particular variable, such as income or wealth.