Adam Smith believed that the tendency of businesses to take advantage of consumers would best be checked by

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Adam Smith believed that competition would result in businesses striving to offer better products at lower prices in order to win over consumers. This would create a more efficient market economy that could benefit everyone involved. He saw little role for the church or state in regulating business in this way, but he did acknowledge the importance of labor unions as a tool for workers to negotiate better wages and working conditions. However, overall, competition was seen as the best check on businesses taking advantage of consumers.

Adam Smith Believed That the Tendency of Businesses to Take