Answer the following question about Adam Smith with 1-2 paragraph Essay

Answer the following question about Adam metalworker with 1-2 paragraph answers - strive ExampleQ 3. Self-interest in the context of the book means that an individual applies his talent to a plastered craft or job so he can exchange his produce with otherwise goods which he will extremity for himself. A person is motivated to apply himself to work, which others can benefit from, not for the pastime of others but for his own self. Self-interest entails wisdom and intelligence whereas selfish and egotistical motives refer to vanities and mindless instincts. Smith had self-interest in mind when he stated the aforecited passage.Q 4. This statework forcet simply means that all men need the same basic things to survive, food, shelter and clothing. This aspect of a mans life makes a genius an equal to the street porter because a genius ( like the philosopher) and the average-intellect person (street porter), both need food to live and, need clothes to wear for protection and shelter to protect himself from the elements.2 on the theory that the value of a thing, is dependent upon its utilizableness. Smith, in introducing this new theory, pointed out that water is very useful but without value while diamonds are valuable but are useless.Q 6It is unfair and equipment casualty to take aim rent on top of the land rent because it a non-labor income already grants the tenant the pay off to use the land in accordance to the agreement between him and the land owner. Smith advocated that land rents essential be taken from the surplus profits of the produce of the land and therefore the rate of which is dependent upon other variables like quality of the produce, the law of supply and demand, their marketability and the like.Q 7The law of supply and demand, that is the price of goods goes up because the demand exceeds the supply. When somebody important dies, the family, the relatives and the supporters of the deceased will be wearing ghastly to show mourning and a nd so there is a heightened demand for the black cloth. This will have the effect of raising the price of the black