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

Question

Quizplus · Accepted Answer

Adam Smith wrote extensively about the benefits of international trade and argued that it enhances economic growth and allows for countries to specialize in producing goods that they have a comparative advantage in. He also believed that free trade - without government intervention such as protectionism or trade tariffs - was the most beneficial for all parties involved.

Adam Smith Advocated the Benefits Of