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16 November, 17:03

What were Adam Smith's 3 natural laws of economics?

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  1. 16 November, 17:21
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    1) The law of self interest - when people work for themselves and their own good

    2) The law of competition - people make better products because of competition

    3) The law of supply and demand - enough goods would be produced or supplied at the lowest price to meet the demand in a market
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