Which of the following observations was made famous by adam smith in his book the wealth of nations?

ANSWER :

The Book 'Enquiry into Wealth of Nations' by - Adam Smith 'Father of Economics' came up in 1776.

The book basically focused on : Inward Looking Foreign Trade Policy , Free Unintervened Markets.

The first is based on 'Mercantalist' approach that - Country can accumulate wealth by amassing gold & precious metals, through maintaining positive foreign trade balance (exports > imports)

The second suggests that 'free market' are the best solution guided by 'self interest' leading to social interest . The market 'invisible hand' will balance all the discrepancies & state (govt) intervention is distortionary.

answer; the correct answer is (0.08);