Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Introduction

Question:
It is not from the benevolence of the butcher, the brewer, of the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. The above statement is cited in support of which of the following options?
Options:
Free market economy
Socialist economy
Mixed economy
None of above
Correct Answer:
Free market economy
Explanation:
In free market economy, businessmen give priority to their self-interest (earning profits) over the welfare of society as a whole. The above statement hints towards the same meaning.