In his book "The Wealth of Nations", Adam Smith stated that economies and companies could improve their wealth by
A) allowing specialization of tasks.
B) ensuring that logistics is used to gain advantage in the marketplace.
C) becoming multi-national.
D) moving production off shore.

Question

Quizplus · Accepted Answer

Adam Smith's theory of specialization suggests that by dividing tasks and allowing workers to focus on specific tasks, productivity and efficiency will increase, which ultimately leads to economic growth and wealth. The other choices, such as logistics, multi-nationalism, and offshoring, are not mentioned in the book as factors for improving wealth.

In His Book "The Wealth of Nations", Adam Smith Stated