According to Adam Smith, free trade is the result of
A)Division of labour and specialisation both at the national and international level
B)Specialisation only at the national level
C)Division of labour and specialisation at the national level only
D)Division of labour only at the international level

Question

Quizplus · Accepted Answer

Adam Smith advocated for the division of labour and specialisation as means to increase efficiency and productivity, not just within a nation but also on an international scale. This concept underpins his support for free trade, as it allows countries to specialize in the production of goods and services they are most efficient at, leading to increased economic welfare globally.

According to Adam Smith, Free Trade Is the Result of