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17 July, 11:03

In 1776 with An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith challenged the prevailing belief in mercantilist policies. The characteristic of capitalism that buyers and sellers will freely and willingly exchange in market transaction is called

A) profit motive.

B) economic freedom.

C) voluntary exchange.

D) entrepreneurial spirit.

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Answers (1)
  1. 17 July, 14:37
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    The correct answer is C) Voluntary exchange

    This is just another reason why Adam Smith is considered to be the father of modern economics.
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