Which of the following is an important premise of Smith's conclusions about economic prosperity?

A. Individual freedom is necessary if a society is to prosper.

B. Understanding the concept of survival of the fittest will lead to prosperity.

C. Determining what motivates people will lead to prosperity.

D., nd economies and structured markets must be in place before we can work toward prosperity.

Question

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21 August, 05:05

Which of the following is an important premise of Smith's conclusions about economic prosperity?

A. Individual freedom is necessary if a society is to prosper.

B. Understanding the concept of survival of the fittest will lead to prosperity.

C. Determining what motivates people will lead to prosperity.

D., nd economies and structured markets must be in place before we can work toward prosperity.

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Answers (1)

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Marc Roberts · Answer 1

Answer: Option (A) is correct.

Explanation: One of the important postulate of Adam Smith's conclusion about economic accomplishment discussed in this case is that "Freedom of an individual or a consumer is necessary if a society wants to prosper in every aspect i. e. technology, health, education, security etc. "

This is further explained and discussed at length in Adam Smith's book called "The Wealth of Nations".

Therefore, the correct option in this case is (A)