Asked by
Shelby Storie
on Oct 13, 2024
Verified
Adam Smith
A) argued that capitalism is often confused with democracy.
B) wrote Das Kapital.
C) said that the entrepreneur is motivated by self-interest.
D) coined the phrase: "From each according to his ability,to each according to his needs."
Das Kapital
A foundational theoretical text in communist philosophy, economics, and politics, written by Karl Marx, which critiques the economic systems of capitalism.
Adam Smith
A Scottish economist and philosopher known as the "father of economics" and the author of "The Wealth of Nations," which laid the foundation for classical economics.
Entrepreneur
A person who establishes, arranges, and manages one or more businesses, assuming higher-than-usual financial risks to achieve this.
- Understand the principles of self-interest and the invisible hand in economics as proposed by Adam Smith.
Verified Answer
AS
Learning Objectives
- Understand the principles of self-interest and the invisible hand in economics as proposed by Adam Smith.