Adam Smith noted in 1776 that
A)the wealth of nations comes from the money the nations have accumulated.
B)the wealth of nations comes from the gold the nations have accumulated.
C)the wealth of nations comes from the resources that produce the nation's goods and services.
D)the problem of scarcity had been lickeD.

Question

Quizplus · Accepted Answer

Adam Smith's view was that the wealth of nations came from the resources that produced the nation's goods and services. He believed that a country's wealth was based on the productivity of its people and the availability of its resources. Therefore, choice C is the most appropriate answer. Choices A and B are not accurate as they suggest that money or gold are the sources of wealth, whereas Smith's focus was on the factors of production. Choice D is not correct as the problem of scarcity is a persistent challenge, and Smith did not claim to have solved it.

Adam Smith Noted in 1776 That