Both the Wealth of Nations and the Declaration of Independence

question 47

Multiple Choice

Both The Wealth of Nations and the Declaration of Independence share the point of view that

• A)every person is entitled to life,liberty,and the pursuit of happiness.
• B)individuals are best left to their own devices without the government guiding their actions.
• C)the government plays a central role in organizing a market economy.
• D)because of human nature a strong legal system is necessary for a market system to survive.

---

Definitions:

Mark-Up

The markup on goods’ cost intended to defray overhead expenditures and yield profit.

Operating Expenses

The costs associated with the day-to-day operations of a business.

Operating Profit

Earnings derived from a corporation's principal operations, before subtracting interest and taxes.

Cash Discount Rate

A reduction on the invoice price offered by sellers to encourage prompt payment from the buyer.