Adam Smith argued that a society of free individuals should use their personal abilities to pursue their individual self-interest without interference from the state, and that societies should follow the invisible hand of the market via supply and demand.
Correct Answer:
Verified
Q35: The metaphor of the "flying geese formation"
Q36: Ronald Coase departed from the neoclassical tradition
Q37: New institutional economics (NIE) reshaped contemporary understandings
Q38: Until the mid-1700s most people lived in
Q39: The Industrial Revolution began in the eighteenth
Q41: The theory of comparative advantage suggested that
Q42: Franz List, a German political economist writing
Q43: Alexander Gerschenkron is credited with developing the
Q44: As a result of Keynesian economics and
Q45: Walt W. Rostow's transition stage of economic
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents