adam smith believed that fair prices for goods are determined in a capitalist system through competition…

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

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

Answer

Brief Explanations:

Adam Smith, the father of modern - economics, advocated the free - market system. He believed that fair prices are set by the invisible hand of the market, which is competition between businesses. Government regulation and import/export limits go against his free - market ideas, and competition between consumers is not the main factor in price determination according to him.

Answer:

A. through competition between businesses.