Question

How does smith believe individual self interest and profits benefit all of society

Answer 1

Answer:

A. It causes people to seek out high-paying jobs.

B. It encourages people to be more benevolent.

C. It causes people to behave more cautiously.

D. It encourages employers to pay high wage

Explanation:

I took the test.

Answer 2

According to Adam Smith, the self-interest represents the personal gain of the individual and actions he takes in order accomplish that self interest. He was a staunch believer in the free market and was against government regulations because he thought that the free market would most benefit the individual and therefore the society. The competition is what makes the the manufacturers produce better products and more of them, while this will spur the costumers to buy those products. When many act in their own self interest, the market will give both to the manufacturers and the consumers.