Adam Smith Believed That Government

question 3

Multiple Choice

Adam Smith believed that government

• A)should not interfere in people's economic decisions.
• B)set prices across the board to maintain stability.
• C)should encourage people to share and help each other.
• D)has a responsibility to the people to manage the economy.
• E)is not necessary and should be eliminated entirely.

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Definitions:

Major Costs

The significant expenses incurred in the operation of a business or the execution of a project.

Databases

Structured collections of data or information typically stored electronically in a computer system, utilizing software to manage, update, and retrieve the data efficiently.

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Visual representations of geographical areas showing roads, buildings, and various landmarks, used for navigation.

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The process of choosing a geographical site for a company’s operations, facilities, or stores based on factors such as cost, customer proximity, and infrastructure.