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According to Adam Smith and other classical economists, why is the economic theory supporting market economies much more realistic than thoeries supporting command economies?

A. the founders were more important people B. the founders were sma...

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According to Adam Smith and other classical economists, why is the economic theory supporting market economies much more realistic than thoeries supporting command economies?

A. the founders were more important people B. the founders were smarter C. it is based on self-interest D. it is based on religion

Answer

The correct answer is it is based on self-interest.
Smith and others claimed that self-interest of individual regulates market better than anything else.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 48 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 128 views.

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