Humanities/Arts Exam  >  Humanities/Arts Questions  >  What did Adam Smith believe regarding individ... Start Learning for Free
What did Adam Smith believe regarding individual decisions in markets?
  • a)
    They could lead to societal goals being ignored.
  • b)
    They were irrelevant to the country's wealth.
  • c)
    They would automatically lead to the country's welfare.
  • d)
    They needed to be strictly regulated by the government.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What did Adam Smith believe regarding individual decisions in markets?...
Adam Smith suggested that if individuals in each market acted according to their self-interest, it would naturally lead to the welfare of the country as a whole, a concept known as the "invisible hand."
Explore Courses for Humanities/Arts exam

Top Courses for Humanities/Arts

What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer?
Question Description
What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer?.
Solutions for What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Humanities/Arts. Download more important topics, notes, lectures and mock test series for Humanities/Arts Exam by signing up for free.
Here you can find the meaning of What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What did Adam Smith believe regarding individual decisions in markets?a)They could lead to societal goals being ignored.b)They were irrelevant to the countrys wealth.c)They would automatically lead to the countrys welfare.d)They needed to be strictly regulated by the government.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Humanities/Arts tests.
Explore Courses for Humanities/Arts exam

Top Courses for Humanities/Arts

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev