Adam Smith is most principally associated with
the social contract.
mercantilism.
freedom of religion.
a system of checks and balances in government.
laissez-faire economics.
In economic terms a "comparative advantage" is best described as
the ability of one country to produce a resource cheaper than another country can.
the unique advantages possessed by the American Republic that have allowed the country to emerge as the world's dominant economic power.
the belief that a country should primarily focus on ensuring a favorable balance of trade by exporting more than it imports.
the reason why the work force always has less power than those who employ them.
the manner in which a company with a monopoly can lower prices and ensure the continued lack of competition.
