Explore BrainMass
Share

Explore BrainMass

    Seldom do businessmen of the same trade

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What did Adam Smith mean when he wrote "Seldom do businessmen of the same trade get together but that it results in some detriment to the general public"?

    You may also wish to discuss the behavior of an oligopoly using an example such as
    -OPEC
    -U.S. automotive industry

    How are these oligopolies alike and different?

    © BrainMass Inc. brainmass.com October 10, 2019, 12:53 am ad1c9bdddf
    https://brainmass.com/economics/international-trade/seldom-do-businessmen-of-the-same-trade-312176

    Solution Preview

    Questions:
    What did Adam Smith mean when he wrote "Seldom do businessmen of the same trade get together but that it results in some detriment to the general public"? How are these oligopolies alike and different?

    Solution:
    What Adam Smith meant was that when businessmen of the same trade get together the results are ...

    Solution Summary

    This posting helps with a problem about international trade. It discusses what Adam Smith meant when he wrote that "Seldom do businessmen of the same trade get together but that it results in some detriment to the general public." It also discusses the behavior of an oligopoly using an example such as OPEC and the U.S automotive industry. It also discusses how oligopolies are alike and different.

    $2.19