Adam Smith believed the best way to promote the public interest was to

We have a mixed economy because ________. there is a private sector and a public sector
 Explanation:

The term "mixed economy" is defined in the first sentence of the chapter.

Adam Smith believed the best way to promote the public interest was to ________. let people pursue their own selfish interests
 Explanation:

In the section, “The Invisible Hand,” Adam Smith explains why people pursuing their own selfish interests end up promoting the public interest.

Our economy does a very good job with respect to ________. efficiency, but not equity
 Explanation:

The American economy does not have anything close to income equality, or equity, but it does a fairly good job of using our resources efficiently.

Which statement is the most accurate?  It could be argued that every nation has a mixed economy.
 Explanation:

Every nation has a mixed economy: some tend toward private control of the means of production, while others tend toward government control.

 

The price system is based on ________. supply and demand
 Explanation:

Prices are set by the forces of supply and demand, which may be considered the mechanism which enables capitalism to operate.

Which of the following would be the best public policy? Provide business firms with incentives to curb their pollution. 
 Explanation:

Read the section "Curbing Environmental Pollution" to see why providing business firms with incentives to curb their pollution would be the best public policy.

The pilgrims who settled in Plymouth, Massachusetts, concluded that ________. private ownership worked better than collective ownership
 Explanation:

The price mechanism is most important under capitalism and least important under communism.

Private ownership of most of the means of production is common to ________. capitalism and fascism
 Explanation:

Private ownership of most of the means of production is common to capitalism and fascism.