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:

Tort

An act that is wrongful under civil law, leading to harm or loss for another individual, which results in the perpetrator being legally responsible.

Classification

The process of arranging or categorizing items into different groups based on shared qualities or characteristics.

Tort

A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.

Public Wrong

Acts or offenses that violate laws established to protect the public and maintain social order, dealt with through criminal justice system.