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Assessment
What is the primary subject of Adam Smith's 'The Wealth of Nations'?
The distribution of wealth
The principles of capitalism and free markets
The role of government in economic regulation
The history of economic thought
According to Adam Smith, what drives economic prosperity?
Government intervention and planning
Barter and trade between individuals
Self-interest and competition
Monopolistic practices
What concept does Adam Smith use to describe the benefits of individual actions in a free market?
The invisible hand
Relative advantage
Opportunity cost
Market equilibrium
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