Which of the following is an important premise of Smith's conclusions about economic prosperity?
A) Individual freedom is necessary if a society is to prosper.
B) Understanding the concept of survival of the fittest will lead to prosperity.
C) Determining what motivates people will lead to prosperity.
D) Command economies and structured markets must be in place before we can work toward prosperity.

Question

Quizplus · Accepted Answer

Smith believed that individual freedom was necessary for economic prosperity because it would allow individuals to pursue their own interests, which would lead to innovation, efficiency, and overall economic growth.

Which of the Following Is an Important Premise of Smith's