0
businesses should be able to run without government interferance
Mohammad Gaylord
Add your answer:
Earn +20 pts
Who was the first person to explain the market economy?
Adam Smith
Economists associate Adam Smith with a?
Adam Smith is associated with a market economy.
Which economist was among the first to explain how a pure market economy works?
Adam Smith
How are Adam smith's ideas evident in our economy today?
all of Smith's ideas contributed in the American economy which lead to the increase of the productivity and output, it also increased the competitions in the market.
Who was known as the father of the free market economy?
American economist Milton Friedman is known as the father of the free market principle.
Who was the first person to explain the market economy?
Adam Smith
Economists associate Adam Smith with a?
Adam Smith is associated with a market economy.
Which economist was among the first to explain how a pure market economy works?
Adam Smith
Which economist was among the first to explain how pure market economy work?
Adam Smith
Whose interest is more important under market economy according to Adam smith?
The wealthy interest is the most important to the success of the market economy.
What did Adam Smith say the free market economy is regulated by?
It was self-regulated by the "invisible hand."
How are Adam smith's ideas evident in our economy today?
all of Smith's ideas contributed in the American economy which lead to the increase of the productivity and output, it also increased the competitions in the market.
Who was known as the father of the free market economy?
American economist Milton Friedman is known as the father of the free market principle.
When was Adam Smith Chair of Political Economy created?
Adam Smith Chair of Political Economy was created in 1892.
What is the principle idea that the invisible hand of competition sets prices and determines quantities produced in a market economy?
Adam Smith
Why did Adam Smith insist that a market economy would produce consumer goods more efficiently that a command economy?
To maximize profits, firms in market economies strive to efficiently supply and distribute what consumers want.
The free-market system of capitalism was defended in the book The Wealth of Nations by whom?
Adam Smith wrote the book called the wealth of nations
