Question

which of the following is a belief about economics supported by adam smith

Answer 1

Adam Smith, often referred to as the "father of economics," is best known for several key beliefs that underpin classical economic theory. One of his primary beliefs is the idea of the "invisible hand," which suggests that individuals pursuing their own self-interest in a competitive market ultimately leads to the best outcomes for society as a whole. This concept supports the idea that free markets can efficiently allocate resources without the need for central planning or intervention.

If you have specific statements or beliefs listed, I can help identify which one aligns with Adam Smith's economic philosophy.