Sue is a gifted cook.She is about to open her own business,a restaurant in which she will be the head chef.Sue is willing to work long hours because she believes that her culinary talents and hard work will allow her business to succeed and earn her a great deal of money.Sue's efforts appear most consistent with the economic theory developed by:
A)Karl Marx.
B)Thomas Malthus.
C)Adam Smith.
D)David Ricardo.

Question

Quizplus · Accepted Answer

Adam Smith is known as the father of modern economics and is associated with the theory of capitalism. According to Smith, individuals pursuing their own self-interest and operating in a competitive market will result in the greatest overall benefit for society. Sue's willingness to work long hours and use her talents to create a successful business align with Smith's ideas of individuals pursuing their self-interest in a competitive market.

Sue Is a Gifted Cook