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Adam Smith opposes monopoly because it restricts competition, leading to higher prices and reduced quality of goods and services. He believed that a free market, driven by competition, promotes innovation and efficiency, ultimately benefiting consumers. Monopolies can also lead to the concentration of power, undermining the principles of a fair and equitable economy. Smith argued that competition is essential for the welfare of society.
What else can I help you with?
What was the 'great enemy' to Adam Smith's system?
The "great enemy" to Adam Smith's system was any form of a monopoly because they do not go along with the fluid motion of the market.
Who is referred to as the father of economics?
John Maynard Keynes
Adam Smith what is he most known for?
Adam smith...........
Who advocated the theory of laissez faire?
Adam Smith
Adam smith's law?
Adam Smith stated the law of supply and demand.
What did Adam smith oppose?
mercantilism
What was the 'great enemy' to Adam Smith's system?
The "great enemy" to Adam Smith's system was any form of a monopoly because they do not go along with the fluid motion of the market.
Who is referred to as the father of economics?
John Maynard Keynes
Wilson did not oppose monopoly business True or False?
False.
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...........
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
How tall is Adam C Smith?
Adam C Smith is 5' 9".
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
Adam smith's parents names are?
Adam Smith shared is father's name of Adam Smith and his mother's name was Margaret Douglas.
Who advocated the theory of laissez faire?
Adam Smith
