Adam Smith's basic economic philosophy stated in The Wealth of Nations can be stated as:
A) laissez faire.
B) allow to act.
C) the least government is best.
D) all of these.

Question

Quizplus · Accepted Answer

Adam Smith's economic philosophy, as stated in The Wealth of Nations, is a combination of laissez faire (meaning letting the economy operate on its own without government intervention), allowing individuals to act freely in the market, and the belief that a minimal government is best. Therefore, all of the choices (A, B, and C) are correct.

Adam Smith's Basic Economic Philosophy Stated in the Wealth of Nations