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Which of Adam Smith's ideas made Mark think of starting a restaurant?

1) Invisible hand
2) Self-interest
3) Competition
4) Laissez-faire

User Mirage
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1 Answer

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Final answer:

Mark may have been inspired to start a restaurant based on Adam Smith's idea of self-interest, as it emphasizes that individuals working for their own benefit can produce positive results for society. This aligns with the entrepreneurial motivation behind opening a business.

Step-by-step explanation:

The concept by Adam Smith that likely inspired Mark to think of starting a restaurant is self-interest. In Adam Smith's seminal work, The Wealth of Nations, he posits that self-interested behavior in the marketplace leads individuals to make decisions that, although intended for personal benefit, can result in positive outcomes for society as a whole. This is because in pursuing their own profit, individuals inadvertently produce and provide goods and services that society needs. Consequently, when Mark considers opening a restaurant, he is likely recognizing his desire to fulfill his own self-interests, which include making a profit and potentially finding personal satisfaction in providing a service to consumers. While the invisible hand, competition, and laissez-faire principles are also fundamental Smith’s ideas and beneficial to the functioning of the market, it's the entrepreneurial spirit driven by self-interest that most directly relates to Mark's ambition of starting a business.

User Soupault
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