Student Digest

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 …

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 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? Answers Term used by Adam Smith to describe the natural force that guides free market capitalism through competition for scarce resources. …