Adam Smith believed that the government should allow business to operate freely.
Adam Smith was a believer in the free market which meant that he felt the government should interfere as little as possible in the activities of businesses.
This is not to say that he did not believe the government had no role. He actually believed that the government should:
- provide a means for contracts to be enforced if parties renegaded on their duties
- grant patents to protect the inventions of people
- protect the nation and businesses to enabled the promulgation of commercial activities
In conclusion, Adam Smith believed that the government should not interfere with the running of business but should protect them and the business environment.
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Henry Ford was the founder of the "division of labor" concept that increases the production level more quickly and efficiently.
<u>Explanation:</u>
- The efficiency model had been the foundation or the beginning of the business progression.
- Henry Ford's efficient mechanism resulted in the production of more cars at a cheaper price.
- So more people can afford cars at a cheaper price and it also increases sales to a rapid extent.
- Thus it results in better output and also encourages other businessman to follow this mechanism to improve their production in the market.
The reason why immagrants didnt go to the south because of slavery.
No he's not poor any more
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