bewellplus.gsu.edu
ChieffedBunnie ChieffedBunnie
  • 25-01-2016
  • History
Answered

Why did Adam Smith insist that a market economy (capitalism) would produce consumer goods more efficiently than a command economy?

Verified Answer :

WorldlyGlass49
WorldlyGlass49 WorldlyGlass49
  • 05-02-2016

He claimed that a market economy would be based on the "supply and demand" rule.Suppliers, producers, and distributors, would strive to produce and provide the public what the public wants at a best possible price. This however would not occur in a command economy.

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