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