According to Adam Smith
A) politicians are well- equipped to regulate corporations and intervene in markets to improve market outcomes.
B) the self- interest and the social interest never conflict.
C) in a market transaction buyers can either get what they want for less than they would be willing to pay or sellers can make a profit, but both buyers and sellers can't gain simultaneously.
D) government intervention in markets is not desirable because an invisible hand leads decisions made in pursuit of self- interest to unintentionally promote the social interest.
E) when big corporations pursue their self- interest of maximum profit, they will inevitably conflict with social interest.
Correct Answer:
Verified
Q47: A tractor is an example of which
Q48: Which of the following relates factors of
Q49: Which one of the following is an
Q50: The creation of a successful movie can
Q51: Choose the correct statement.
A)In Canada today, manufacturing
Q53: Which one of the following would economists
Q54: Self- interest choices are
A)never in the social
Q55: Which of the following is not a
Q56: Which one of the following is an
Q57: Which one of the following is labour?
A)money
B)a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents