Question

adam smith believed that fair prices for goods are determined in a capitalist system
o through competition between businesses.
o by government regulation of businesses.
o by setting limits on imports and exports.
o through competition between consumers.

Explanation:

Adam Smith, a key figure in economics, argued that in a capitalist system, competition between businesses drives fair pricing. Businesses compete to attract customers by offering better prices, quality, or services, leading to equilibrium prices that reflect supply and demand without external regulation.

Answer:

A. through competition between businesses.