Competition,according to Adam Smith,would lead to consumers receiving the best possible products and prices because _____.
A)government interference in economic activity would be maximized
B)less efficient producers would be driven out of the market
C)increased supply of raw materials would lead to increased production
D)natural resources would be utilized more efficiently

Question

Quizplus · Accepted Answer

Adam Smith argued that competition would lead to the best products and prices for consumers because it would drive less efficient producers out of the market, ensuring that only the most efficient and high-quality producers survive.

Competition,according to Adam Smith,would Lead to Consumers Receiving the Best