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Answered

The three main ideas behind capitalism as defined by Adam Smith are:

A. Free markets, laissez-faire, and fair taxes.
B. Competition, self-interest, and laissez-faire.
C. Laissez-faire, regulation, and self-interest.
D. Competition, free markets, and trade limits.



Answer :

GinnyAnswer

Final answer:

Adam Smith's capitalist ideas revolve around competition, self-interest, and laissez-faire as key principles.


Explanation:

Adam Smith, a Scottish economist and philosopher, introduced capitalist ideas such as the importance of the division of labor and worker productivity in his book The Wealth of Nations. He emphasized competition, self-interest, and laissez-faire as fundamental aspects of capitalism. Smith believed that a free market system succeeds due to mutual self-interest, with the concept of 'the invisible hand' guiding economic activity.


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