According to Adam Smith,the Success of Decentralized Market Economies Is

question 25

Multiple Choice

According to Adam Smith,the success of decentralized market economies is primarily due to

• A)the basic benevolence of society.
• B)society's legal system.
• C)individuals' pursuit of self-interest.
• D)partnerships that are forged between business and government.

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Definitions:

Fundamental Attribution Errors

The tendency to overemphasize personality-based explanations for behaviors observed in others while underemphasizing the role and power of situational influences.

Social Facilitation

Any positive or negative effect on performance that can be attributed to the presence of others, either as an audience or as coactors.

Mere-Exposure Effect

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Reciprocal Liking

The phenomenon where people tend to like others who like them back.