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Wittaler [7]
3 years ago
14

How did Adam Smith revolutionize economics

History
1 answer:
Schach [20]3 years ago
5 0
The way that Adam Smith revolutionize economics is:   He developed the idea of the "invisible hand" of the free market, which continually keeps the economy on course
Adam smith's teaching became the basis of Capitalism that we see today. According to this system, The market will decide who will accumulate the most wealth simply by following the flow of supply and demand (i.e: the invisible hand)
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Money is anything that is used to make payments and transactions. A sheep, shirt and a snickers bar are a poor form of money as they don't have the characteristics of what money should be.

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