What Was Adam Smith's Idea That Competition Among Numerous Self-Interested

question 41

Multiple Choice

What was Adam Smith's idea that competition among numerous self-interested individuals and enterprises benefit society called?

• A) Comparative advantage.
• B) Invisible hand.
• C) Economies of scale.
• D) Opportunity costs.

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Definitions:

Weak Acids

are acids that do not fully dissociate in aqueous solution, resulting in a low concentration of hydrogen ions.

Limestone

A sedimentary rock primarily composed of the mineral calcite (calcium carbonate), often formed from the skeletal remains of marine organisms.

Dissolved

A process in which solids are mixed into liquids to create a uniform solution, commonly occurring in both nature and chemical reactions.

Chemical Weathering

The breakdown of rocks and minerals through chemical reactions with substances in the environment, like water, oxygen, and acids.