Which of the Following Statements Reflects Adam Smith's Important Insight

question 150

Multiple Choice

Which of the following statements reflects Adam Smith's important insight into marketplace behavior?

• A) Society benefits when people and firms pursue their own self-interests.
• B) Markets are usually an inefficient way of organizing economic activity.
• C) Greedy, self-interested behavior needs to be constrained to ensure strong economic growth.
• D) Trade restrictions on imported goods increase domestic employment.

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Definitions:

Probability Sampling

A sampling method in which every member of the population has a known, non-zero chance of being selected.

Sampling Technique

The method or process used to select samples from a population for research purposes.

Judgmental Sampling

A sampling technique where the researcher selects sample members based on their own judgment about which ones will be most representative or informative.

Chain Referral

A sampling method where existing study subjects recruit future subjects from among their acquaintances.