let people pursue their own selfish interests wait for indiv

let people pursue their own selfish interests wait for individuals to set out to promote the public interest get rid of the price mechanisn D. 2) Which statement was coined by Adam Smith? effectually than when he really intends to promote it. B. The f surplus to buy more capital goods. C. The foundation of the United States economic system is socialist ownership of the means of production in the form of state property and collective farm and cooperative property D. None of these statements were coined by Adam Smith ) Hilders Germany was an of a A Capitalist B Fascist C Communist A capitaliom and communism capitalism and sncialiom D fscion and communis The prtpms each of the following occnomic functions except

Solution

2. In his book The Wealth of Nations Adma Smith propounded the idea of the Invisible Hand which talked about the self-interest. he said every individual intends only his gain.

Option A. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.

3. Hitler\'s Germany was an example of a Fascist economy system.

In case of a Fascist economy the role of government is more than regulating the economy, they are major decision maker in context of investment and industrialization. this economic system supports the successful enterprenuers.

4. Private ownership of most of the means of producation is common to Capitalism & Fascism.

Capitalist Economy is that economic system under which most or all means of production are privately owned and operated.

Fascist Economy under this economic system the government holds all the means of production and it makes all the decisions.