Adam Smith's Wealth of Nations stressed the importance of (1) tradition (2) supply and demand (3) large corporations (4) government ownership

Adam Smith’s Wealth of Nations stressed the importance of "supply and demand". Adam Smith was a big believer in the power of the market economy.

Ans: Option (2) Supply and Demand

Explanation:

Supply and Demand is the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy. If less of a product than the public wants is produced, the law of supply and demand says that more can be charged for the product. More suppliers and less demand means the price of the product will be low, whereas, in the case of less suppliers and more demand, the product's price will be high. The other factors that Adam Smith's Wealth of nations emphasis on are the competition and the freedom (in market economy).