Adam Smith Demonstrated with His Pin Factory Example That

question 9

Multiple Choice

Adam Smith demonstrated with his pin factory example that:

• A) capitalism constantly destroys old technologies in favor of new ones.
• B) factory production cannot create products as desirable as craft production.
• C) factory production leads to social problems,including alienation and poverty.
• D) by dividing labor,factory production increases output by making it more efficient.

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Definitions:

Personality Traits

Characteristics that form an individual's distinctive character, influencing their behavior and emotional patterns.

Thoughts

The mental processes that include reasoning, perception, judgment, and memory, through which an individual forms ideas, opinions, and attitudes.

Behaviors

The behavior or response of a person or group as a result of outside or inside forces.

Self-Efficacy

An individual’s belief in their capacity to execute behaviors necessary to produce specific performance attainments.