Question

1. Why might some historians consider Adam Smith one of the most influential people in history?
A. He taught that all people should be economic equals.
B. He introduced a way of thinking about economic ideas.
C. He argued for a larger role for the government in the economy.
D. He wrote the economic argument for American independence.

Answer 1

He introduced a way of thinking about economic ideas.

Explanation:

Adam smith was a great economist who advocated free trade in market economy of the country. He was also a celebrated economist during the Enlightment era. He also proposed that a minimum government intervention would promote the economy into a prosperous financial path. It was considered to contradictory to mercantilism.

He also advocated that self-interest is key factor which would promote buying and selling in the business. He also insisted that free market trading is autonomous and independence in trading can make a nation gain much wealth.