BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Wealth of Nations, in full An Inquiry into the Nature and Causes of the Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy.

Detailed explanation-2: -The Wealth of Nations carries the important message of laissez faire, which means that the government should intervene as little as possible in economic affairs and leave the market to its own devices.

Detailed explanation-3: -classical capitalism was expressed in An Inquiry into the Nature and Causes of the Wealth of Nations (1776), by the Scottish economist and philosopher Adam Smith, which recommended leaving economic decisions to the free play of self-regulating market forces.

Detailed explanation-4: -Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during the 18th century. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.

Detailed explanation-5: -Adam Smith was a philosopher and economic theorist born in Scotland in 1723. He’s known primarily for his groundbreaking 1776 book on economics called An Inquiry into the Nature and Causes of the Wealth of Nations. Smith introduced the concept that free trade would benefit individuals and society as a whole.