Which of the Following Is an Important Premise of Smith's

question 58

Multiple Choice

Which of the following is an important premise of Smith's conclusions about economic prosperity?

• A) Individual freedom is necessary if a society is to prosper.
• B) Understanding the concept of survival of the fittest will lead to prosperity.
• C) Determining what motivates people will lead to prosperity.
• D) Command economies and structured markets must be in place before we can work toward prosperity.

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Definitions:

Cash

Money in the form of coins and banknotes, as opposed to checks, credit, or other forms of digital or electronic payment.

Sweater

A knitted garment typically made of wool, cotton, or synthetic yarn, worn over the upper body to keep warm.

Significant Other

A person with whom someone has an established romantic or sexual relationship or a close and important relationship.

Indifference Map

A graphical representation showing combinations of goods among which a consumer is indifferent, indicating preferences and trade-offs.