Discover the best answers at Westonci.ca, where experts share their insights and knowledge with you. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.
Sagot :
Adam Smith’s Wealth of Nations stressed the importance of "supply and demand". Adam Smith was a big believer in the power of the market economy.
Ans: Option (2) Supply and Demand
Explanation:
Supply and Demand is the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy. If less of a product than the public wants is produced, the law of supply and demand says that more can be charged for the product. More suppliers and less demand means the price of the product will be low, whereas, in the case of less suppliers and more demand, the product's price will be high. The other factors that Adam Smith's Wealth of nations emphasis on are the competition and the freedom (in market economy).
Explanation:
Supply and Demand is the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy. If less of a product than the public wants is produced, the law of supply and demand says that more can be charged for the product. More suppliers and less demand means the price of the product will be low, whereas, in the case of less suppliers and more demand, the product's price will be high. The other factors that Adam Smith's Wealth of nations emphasis on are the competition and the freedom (in market economy).
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.