In Adam Smith's view, which of the following is not the role of government in business?
A) Providing defense against foreign governments
B) Regulating business activity
C) Ensuring internal order
D) Furnishing public works
E) Providing education

Question

Quizplus · Accepted Answer

According to Adam Smith's view, government's role in business is primarily to ensure internal order, provide defense against foreign governments, furnish public works, and provide education. However, Smith believed that business activity should be left to the free market and should not be heavily regulated by the government. Therefore, option B, which suggests that regulating business activity is a role of the government in business, is not supported by Smith's views.

In Adam Smith's View, Which of the Following Is Not