Adam Smith FRS FRSE FRSA (baptised 16 June [O.S. 5 June] 1723[1] – 17 July 1790) was a Scottish[a] economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment.[3] Seen by some as "The Father of Economics"[4] or "The Father of Capitalism",[5] he wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).

Which economic system is Adam Smith advocating for in the provided text from 'The Wealth of Nations'?FeudalismCapitalismMercantilismSocialism

Which economic idea did Adam Smith promote in The Wealth of Nations?A.The strongest economies are the ones with the most gold and silver.B.Businesses should be free to operate without government regulation.C.Private companies should give up their property to groups of workers.D.Businesses should hire workers with many skills instead of specialists.

Which element is most closely associated with Adam Smith's theory of capitalism?A.The protection of workers' rights to form labor unionsB.The establishment of strong economic regulationsC.Limits on the government's role in economiesD.The creation of government-funded industriesSUBMITarrow_backPREVIOUS

Which 19th-century situation best represents Adam Smith's ideas on how the "invisible hand" of the market works?A.Large corporations made enormous profits under capitalist economic systems.B.Poor citizens in capitalist countries frequently faced extremely harsh lifestyles.C.Most middle-class citizens either became extremely poor or wealthy under capitalism.D.Countries that adopted capitalism were able to continue practicing mercantilism.SUBMITarrow_backPREVIOUS

______, the author of The Wealth of Nations and the "Father of Capitalism", wrote extensively about the benefits of division of labor.Albert EinsteinAdam SmithCalvin CoolidgeErik Erickson