What Is the Basic Market Theory Worked Out by Adam

Multiple Choice

What is the basic market theory worked out by Adam Smith in The Wealth of Nations?

A) Because the market is efficient and effective if left alone, government should not interfere with its operations.
B) The market is efficient but needs significant government bolstering to avoid serious downturns, such as the Great Depression.
C) Markets work best when they are managed by the government to ensure the greatest wealth for the people.
D) Globalization and the sharing of international markets create the greatest wealth for most nations.
E) The market is effectively a creation of the state and, as such, should be managed accordingly to create the greatest wealth for its people.