Question

Adam Smith's basic argument is _____. the common good would benefit from your self-interest foreign nationals should always pay in gold natural laws governed the economy the means of production are communally owned

Answer 1

Answer:

The correct answer is the

• common good would benefit from your self-interest

Explanation:

In his writings, Smith argues that the supply and demand and the markets are the best way to satisfy human requirements. Also, he assumes that people are rational and therefore acts individually with a rational self interest. Because of this, he argued that the price mechanism in the market will eventually adjust and match the prices to benefit the common good to the society.

However, he did not directly say "price mechanism", he used the term "invisible hand".