Adam Smith noted that people are adept at pursuing their own self-interests, and that ____ harnesses this self-interest remarkably well.
A)a totalitarian regime
B)a market system
C)a democratic government
D)a closed system

Question

Quizplus · Accepted Answer

Adam Smith is known as the father of modern economics and his book "The Wealth of Nations" is considered one of the most important works in economics. According to Smith, individuals pursuing their own self-interests in a free market system can lead to overall economic growth and prosperity. Therefore, the best fit for the blank would be the "market system" (choice B) as it aligns with Smith's philosophy.

Adam Smith Noted That People Are Adept at Pursuing Their