Early theorists like Adam Smith and David Ricardo laid the foundation for today's capitalist economy based on:
A) individual self-interest
B) free market rules governing the use of labour, land, and capital
C) free trade among nations
D) following the invisible hand of the market via supply and demand
E) All of the above
Correct Answer:
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Q2: International trade prior to the Industrial Revolution
Q3: The Industrial Revolution accelerated the production of
Q4: In the immediate aftermath of the Industrial
Q5: Who of the following was NOT considered
Q6: David Ricardo made the case that countries
Q8: Alexander Gerschenkron's theory of economic development did
Q9: John Maynard Keynes, in trying to end
Q10: Walt W. Rostow, an American economist, proposed
Q11: Walt W. Rostow's transition stage of economic
Q12: Walt W. Rostow's take-off stage included which
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