Which Statement Was Coined by Adam Smith

question 179

Multiple Choice

Which statement was coined by Adam Smith?

• A)By pursuing his own interest,he frequently promotes that of the society more effectually than when he really intends to promote it.
• B)The factory owner,by paying his workers meager wages,is able to use this surplus to buy more capital goods.
• C)The foundation of our economic system is socialist ownership of the means of production in the form of state property and collective farm and cooperative property.
• D)None of these statements were coined by Adam Smith.

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Definitions:

Sale

A transaction between two parties where the buyer receives goods, services, or assets in exchange for money.

Equity Interest

An ownership interest in a company, represented by stock or shares, entitling the holder to a claim on assets and profits.

Cash Dividend

A payment made by a company out of its profits to its shareholders in the form of cash.

Net Income

The final profit amount for a company after subtracting all operational costs and taxes from revenue.