According to Adam Smith, the interest of the producer ought to be attended to: above the interest of the consumer to develop the domestic economy only so far as it may be necessary for promoting that of the consumer profits, since profit is the purpose of production

According to Adam Smith, the interest of the producer ought to be attended to: above the interest of the consumer to develop the domestic economy only so far as it may be necessary for promoting that of the consumer profits, since profit is the purpose of production

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter2: Production Possibilities Frontier Framework

Section: Chapter Questions

Problem 10QP

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Question

According to Adam Smith, the interest of the producer ought to be attended to:

		above the interest of the consumer
		to develop the domestic economy
		only so far as it may be necessary for promoting that of the consumer
		profits, since profit is the purpose of production

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