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- Theories of Economic Developmenteconomics-mcqs › theories-of-economic-development
- Published
- 27 May 2019
- Last updated
- 28 May 2026
Which of the following concepts were supported by Adam Smith?
Multiple choice question for Theories of Economic Development. Select an option, then review the explanation below.
Explanation
Adam Smith endorsed the ideas of (I) laissez-faire economics, (II) the invisible hand guiding markets, (III) policies promoting free trade, and (IV) the importance of competitive markets. Therefore, all four concepts apply.
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