In his The Wealth of Nations, Adam Smith described the economic measures required to make a country wealthy. He described a ______ system built on the division of labor, low government intervention, and the entrepreneurship of private individuals who controlled the means of production.

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Adam Smith's ideas are the basis of capitalist theory, which emphasizes free markets, individual self-interest, and private property rights. Smith argued that individuals acting in their own self-interest would create a market economy that would function more efficiently and effectively than any other economic system. This idea of self-regulating markets is a central tenet of capitalism. Smith also believed in limited government intervention in the economy, which aligns with capitalist principles.

In His the Wealth of Nations, Adam Smith Described the Economic