Question

Adam Smith advocated for:

• A. Protectionism and tariffs
• B. Free trade and open markets
• C. Government control of all industries
• D. A return to mercantilism

Answer 1

Answer:

B. Free trade and open markets

• Adam Smith, who is often considered the father of modern economics.

• In his famous work "The Wealth of Nations" (1776), he argued strongly for free trade and market economies, opposing protectionist policies and excessive government intervention in markets.