Seldom do businessmen of the same trade
Not what you're looking for?
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?
Purchase this Solution
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.
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 ...
Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.