How Could Adam Smith's Comment About the Butcher, the Brewer

question 113

Multiple Choice

How could Adam Smith's comment about the butcher, the brewer, and the baker be accurately rephrased in modern terms?

• A) The butcher, the brewer, and the baker give us our dinner because they want to be well liked in the community.
• B) The butcher, the brewer, and the baker give us our dinner because they will be sued if they don't do so.
• C) The butcher, the brewer, and the baker give us our dinner because they each earn a living by doing so.
• D) The butcher, the brewer, and the baker give us our dinner because they view doing so as a public service.

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Definitions:

Risk of Loss

Refers to the financial and legal responsibility for damage, destruction, or loss of goods, usually determined by the terms of sale like F.O.B.

Identification

The act of identifying or confirming the identity of an individual or object.

Risk of Loss

The potential for an investment or venture to result in financial loss, a fundamental consideration in finance and insurance.

Sales Contract

A legal agreement between a buyer and seller detailing the terms and conditions of a sale of goods or services.