Adam Smith advocated the benefits of:
A) protectionism.
B) trade tariffs over trade quotas.
C) international trade.
D) absolute advantage.

Question

Quizplus · Accepted Answer

Adam Smith, often considered the father of modern economics, believed in the benefits of international trade. In his influential work "The Wealth of Nations," he argued that free trade between countries leads to greater specialization, efficiency, and overall wealth creation. He believed that by allowing countries to specialize in producing goods and services that they are relatively more efficient at producing, countries can exchange those goods with other countries and both sides can benefit. Therefore, option C is the best choice.

Adam Smith Advocated the Benefits Of