answersLogoWhite

0


Best Answer

Adam Smith was pro-capitalism. Google "Wealth of Nations", a book by Smith which may answer some questions.

Adam Smith was an economist who embraced the idea of the "invisible hand" of competition as being the best manner in which to assure the best quality goods at the best prices. Short example, suppose you are the only hat maker in a small town. Your hats are poorly made and over-priced, but you are the only hat maker in town. Suddenly one day another hat maker opens up shop in the town and begins turning out better quality hats than yours, and sells them at a lower price. You now have only two options. You can match his quality and price, or you can go out of business. That is Adam Smith's "invisible hand" of competition at work.

Adam Smith was an economist who embraced the idea of the "invisible hand" of competition as being the best manner in which to assure the best quality goods at the best prices. Short example, suppose you are the only hat maker in a small town. Your hats are poorly made and over-priced, but you are the only hat maker in town. Suddenly one day another hat maker opens up shop in the town and begins turning out better quality hats than yours, and sells them at a lower price. You now have only two options. You can match his quality and price, or you can go out of business. That is Adam Smith's "invisible hand" of competition at work.

User Avatar

Wiki User

โˆ™ 2015-07-16 18:18:47
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides

US Constitution

20 cards

What is the main purpose of the preamble

What article of the US Constitution is concerned with the Legislative Branch

Explain who were the federalist and the anti- federalist

Who established the federal court system

โžก๏ธ
See all cards

US Constitution

20 cards

Who published The Social Contract in 1762

What was the name of the first English colony in America

Who became the King of England in 1760

Which plan proposed a plan that featured only one federal court

โžก๏ธ
See all cards

US Constitution

20 cards

What debates almost ended the Constitutional Convention

The Three-Fifths Compromise determined how population would be counted for

Different events of a Timeline of mircoscopes invented

How many foreign delegates were at the constitutional convention

โžก๏ธ
See all cards

Add your answer:

Earn +20 pts
Q: In what ways was Adam Smith 'pro-business'?
Write your answer...
Submit
Related questions

Who was the first economist to develop ways for governmets to maage the business cycle?

Adam Smith


Who is Adam smith-?

Adam Smith is a common name. There was a Scottish Philosopher from the 1700s with the name Adam Smith.


What has the author Lilian Adam Smith written?

Lilian Adam Smith has written: 'George Adam Smith'


Adam Smith what is he most known for?

Adam smith...........


Adam smith's parents names are?

Adam Smith shared is father's name of Adam Smith and his mother's name was Margaret Douglas.


Where was Adam Smith born?

Adam Smith was born in Kirkcaldy, Scotland.


How old was Adam Smith when he died?

Adam Smith was 62 when he died


When did Adam smith die?

Janet Adam Smith died in 1999.


Who was Adam smith-?

Adam Smith was very important to the Scottish Enlightenment.


When was Adam Smith born?

Adam Smith was born on June 5, 1723.


Adam smith's law?

Adam Smith stated the law of supply and demand.


What is Adam Smith's birthday?

Adam Smith was born on June 5, 1723.


Economists associate Adam Smith with a?

Adam Smith is associated with a market economy.


When was Adam Smith University created?

Adam Smith University was created in 1991.


When was Janet Adam Smith born?

Janet Adam Smith was born in 1905.


When did Janet Adam Smith die?

Janet Adam Smith died in 1999.


When was Patsy Adam-Smith born?

Patsy Adam-Smith was born in 1924.


When did Patsy Adam-Smith die?

Patsy Adam-Smith died in 2001.


When did Adam Smith - swimmer - die?

Adam Smith - swimmer - died in 1985.


When was Adam Smith - swimmer - born?

Adam Smith - swimmer - was born in 1903.


When did George Adam Smith die?

George Adam Smith died in 1942.


When was George Adam Smith born?

George Adam Smith was born in 1856.


When was Adam Smith College created?

Adam Smith College was created in 2005.


How tall is Adam C Smith?

Adam C Smith is 5' 9".


How tall is Adam Neal Smith?

Adam Neal Smith is 5' 9".