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Who was free market philosopher?
Adam Smith
Who made up free market system?
Adam Smith
The free-market system of capitalism was defended in the book The Wealth of Nations by whom?
Adam Smith wrote the book called the wealth of nations
Who is a free market philosopher?
John Locke, Adam Smith...and others
What economic system did Adam smith follow?
Free market Capitalism
Adam smith provided a philosophy for this type of economic system?
free market
Who was known as the father of the free market economy?
American economist Milton Friedman is known as the father of the free market principle.
Who was a Free market philosopher?
One example of a free market philosopher is Adam Smith, known for his work "The Wealth of Nations." Smith advocated for a laissez-faire economic system where individuals pursue their own self-interest, leading to overall societal benefit through the invisible hand of the market.
According to Adam Smith the market was directed by who?
According to Adam Smith, the market was directed by an invisible hand. He described it as a natural phenomenon that guides free markets and capitalism through the competition for limited resources.
How did Adam Smith revolutionize economics?
He developed the idea of the "invisible hand" of the free market, which continually keeps the market on course.
What did Adam Smith say the free market economy is regulated by?
It was self-regulated by the "invisible hand."
What did economist Adam Smith argue about regulation of business activity in a free market?
Supply and demand
