Adam Smith

question 206

Multiple Choice

Adam Smith:

• A) believed that trade in local communities is good for the economy, but trading with people located in foreign countries is bad for the economy.
• B) did not discuss or have an opinion about international trade.
• C) argued that it is beneficial to buy a product if the seller can sell it to us cheaper than we can make it for ourselves, regardless of the product's country of origin.
• D) believed that trade in local communities is bad for the economy, but trading with people located in foreign countries is good for the economy.

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Definitions:

Latent Homosexual

A term historically used to describe a person who has homosexual desires or tendencies that are not openly expressed or consciously acknowledged.

Defence Mechanism

An unconscious tactic employed to shield an individual from the distress caused by thoughts or feelings that are deemed unacceptable.

Identification

A psychological process in which an individual assimilates an aspect, property, or attribute of the other and is transformed, wholly or partially, after the model the other provides.

Self-Esteem

An individual's subjective evaluation of their own worth, or the confidence and satisfaction in oneself.