Adam Smith

question 123

Multiple Choice

Adam Smith

• A)was a Scottish professor of philosophy.
• B)wrote The Wealth of Nations.
• C)said that the entrepreneur is motivated by self-interest.
• D)coined the term "the invisible hand," which means that the profit motive guides economic resources which effectively promotes the public interest.
• E)All of the statements about Adam Smith are true.

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Definitions:

Risk Taking

The action of engaging in activities that involve uncertainty or danger for potential gain.

Entrepreneurial Culture

An organizational culture that fosters innovation, risk-taking, and proactiveness in identifying and exploiting new business opportunities.

Measurable Goals

Objectives that can be quantified or assessed using specific criteria to evaluate the progress or success.

Financial

Relating to money, finances, or the management, investment, and expenditure of capital.