Who is Adam smith?
Who is Adam smith? Answers. Adam smith is a Scottish philosopher, political scientist, journalist, educator, scholar and economist. While his exact date of birth isn’t known, Smith’s baptism was recorded…
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Theories of Adam Smith
Theories of Adam Smith. Answers Adam smith was an economist and philosopher who wrote what is considered the “bible of capitalism”. The wealth of Nations, in which he details the…
How inflation and unemployment are related in the short run
How are inflation and unemployment related in the short run? Answers The inverse correlation between inflation and unemployment should be intuitively easy to grasp. Based on the fundamental principles of…
What does the invisible hand of the market do?
What does the invisible hand of the market do? Answers Term used by Adam Smith to describe the natural force that guides free market capitalism through competition for scarce resources.…