Adam Smith's The Wealth of Nations asserted that the primary economic advantage of societies would be gained from which of the following concepts?
A)management planning and control
B)on-the-job training
C)union representation
D)fair employment legislation
E)division of labour

Question

Quizplus · Accepted Answer

Adam Smith's The Wealth of Nations is widely regarded as a foundation of modern economic theory. In it, Smith argued that division of labour, where work is divided into specialized tasks, would lead to increased efficiency and productivity in societies, resulting in economic growth and development. This is often referred to as the "invisible hand" of the market, where individuals pursuing their own self-interests ultimately drive economic progress. Therefore, the primary economic advantage of societies according to Smith is the concept of division of labour.

Adam Smith's the Wealth of Nations Asserted That the Primary